7th Nov 2019 13:31
(Alliance News) - Russian gold miner Petropavlovsk PLC on Thursday announced the appointment of a new chief financial officer, as well as two new non-executive directors.
Danila Kotlyarov will be stepping up as CFO at the start of February 2020, with current CFO Alexey Dubynin departing the day before that "for personal reasons".
Kotlyarov has "extensive" financial experience, Petropavlovsk said, with his most recent role being as finance head at the miner's investee IRC Ltd.
Chief Executive Pavel Maslovskiy said: "I would like to thank Dubynin for his extensive service over the past few years, particularly his contribution with respect to the turnaround strategy which is beginning to bear fruit. Alexey leaves Petropavlovsk in a strong position to generate healthy cash flows and continue our focus of delivering value to all our shareholders.
"He will be succeeded by Kotlyarov, a highly qualified CFO who has more than demonstrated his abilities at IRC and where he has overseen a significant expansion of that company's operations. I will be delighted to welcome him to the Petropavlovsk team and look forward to working together to deliver the next chapter of the company's growth strategy."
Also joining the board as non-executive directors, effective from Friday this week, are Charlotte Philipps and Katia Ray.
Philipps has "extensive" experience in natural resources corporate financing and equity transactions, Petropavlovsk said, and has spent much of her career in London and Moscow.
Ray has had senior roles at UK-listed miners Rio Tinto PLC and Anglo American PLC, Petropavlovsk continued, mainly in business development, sales & marketing, and project management.
"I am delighted that following the appointment of Charlotte Philipps and Katia Ray, this objective has been achieved. Their appointment will improve the gender and age balance on the board, whilst their differing skillets and backgrounds will add considerable depth to the skills and experience of our board," commented the firm's Non-Executive Chair Roderic Lyne.
"Charlotte has significant expertise in corporate financing and natural resources, whilst Katia has a scientific and technical background and experience in the mining sector. This addition to the board's skillset will benefit Petropavlovsk as it enters its next stage of its development," Lyne added.
Petropavlovsk shares were marginally lower on Thursday in London at 10.28 pence each.
By George Collard; [email protected]
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