8 February 2019 - EN+ GROUP PLC (the "Company", "En+ Group" or, together with its subsidiaries the "Group"), (LSE: ENPL; MOEX: ENPL), a leading international vertically integrated aluminium and power producer, announces the results of the meeting of its board of directors (the "Board") held on 8 February 2019.
The Board approved the following:
Appointment of Executive Chairman and of Senior Independent Director
Lord Barker has been appointed as Executive Chairman of the Board.
Lord Barker's appointment comes with additional powers and responsibilities, designed to tighten the control of the Board over the corporate governance systems and procedures of the Company. The appointment is aimed at further increasing the efficiency of cooperation between the Board and the Company's management, with the ultimate objective of promoting the successful performance of the Company.
Mr. Christopher Bancroft Burnham has been appointed Senior Independent Director.
Appointment of directors to the Board
The following individuals have been appointed as directors of the Board:
- Mr. Vadim Geraskin, as non-executive director;
- Ms. Ekaterina Tomilina, as non-executive director;
- Ms. Elena Nesvetaeva, as non-executive director.
The Board currently consists of 12 members, fully in line with the new corporate governance structure.
In accordance with the Company's Articles of Association, these newly appointed directors will hold office as directors of the Company until the date of the next annual general meeting of the Company, at which time they will be eligible for reappointment by the shareholders at such meeting.
Updated composition of existing Board committees
The membership of the Company's existing Board committees has been refreshed, as set out below:
The Audit and Risk Committee (previously - "The Audit Committee") is now comprised as follows:- Carl Hughes, as chairman;
- Christopher Bancroft Burnham;
- Alexander Chmel;
- Andrey Sharonov.
- Nicholas Jordan, as chairman;
- Christopher Bancroft Burnham;
- Alexander Chmel;
- Igor Lojevsky.
The Corporate Governance and Nominations Committee is now comprised as follows:
- Andrey Sharonov, as chairman;
- Carl Hughes;
- Nicholas Jordan;
- Joan MacNaughton.
Establishment of new Board committees
The following new Board committees have been established:
The Health, Safety and Environment Committee, which is comprised as follows:- Joan MacNaughton, as chairperson;
- Lord Barker;
- Alexander Chmel.
- Christopher Bancroft Burnham, as chairman;
- Lord Barker;
- Carl Hughes;
- Igor Lojevsky;
- Joan MacNaughton.
Lord Barker of Battle, the Company's newly appointed Executive Chairman of the Board, said:
"This a huge step forward for the now independently controlled En+ Group, putting in place unprecedented transparency and accountability, and setting a new standard for muscular corporate governance."
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This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
