24th Jan 2007 07:01
Kazakhmys PLC24 January 2007 24 January 2007 KAZAKHMYS PLC ANNOUNCES THE APPOINTMENT OF MR OLEG NOVACHUK AS CHIEF EXECUTIVE AND MR MATTHEW HIRD AS CHIEF FINANCIAL OFFICER. The Board of Kazakhmys PLC has appointed Mr Oleg Novachuk as Chief Executive tosucceed Mr Y K Cha, who stepped down from the post on 31 December 2006. Mr Novachuk will take up his new post on 15 March 2007, following completion of the 2006 financial year-end closing activities. Mr Matthew Hird, at presentFinancial Controller and Company Secretary, will succeed Mr Novachuk as ChiefFinancial Officer, on the same date. Mr Novachuk's responsibilities as Chief Executive will include the day to daymanagement of the Group and the implementation of the strategy approved by theboard. Mr Hird will be responsible for overseeing the Group's finance andadministrative functions, and for investor relations. Mr Vladimir Kim, asExecutive Chairman, will remain responsible for the strategic direction of theCompany. Mr Novachuk has served as Finance Director of Kazakhmys since 2005. He waspreviously Vice-President of financial projects for Kazakhmys LLC. Beforejoining the Kazakhmys Group in 2001, he served for three years as DeputyChairman then Chairman of JSC Kazprombank, at that time one of the largestprivate banks in Kazakhstan. Mr Hird has served as Financial Controller and Company Secretary of Kazakhmyssince 2005. A qualified Chartered Accountant, he worked with Deloitte and Touchein London from 1994 to 2003 specialising in the audit of mining enterprises and,subsequently, served as Group Reporting Manager and Company Secretary of VedantaResources plc from 2003 to 2005. As there are three executive directors alreadyon the Kazakhmys PLC board, he will not join the board at this stage. Mr Robert Welch, at present Deputy Company Secretary and previously AssistantGroup Secretary of BPB plc, will succeed Mr Hird as Company Secretary ofKazakhmys plc. Mr Vladimir Kim, Executive Chairman of Kazakhmys plc said: "Kazakhmys has astrong board, which has been recently significantly strengthened with bothnon-executives and executives of the highest calibre, as announced in the latterpart of last year. Within the executive team, Oleg Novachuk already has wideknowledge and experience of our operations and Matthew Hird has a thoroughknowledge of the finance function. David Munro will continue to give usinvaluable help on strategy." For further information please contact: Jinsoo Yang, Head of Investor Relations Tel: +44 20 7901 7800Sergei Stephantsov, Deputy Head of Investor RelationsKazakhmys PLC Robin Walker Tel: +44 20 7251 3801Finsbury - ends - Notes to Editors The Group's principal business is the mining, processing, smelting, refining andsale of copper and copper products, including copper cathode and copper rod, andis carried on by the Company's main subsidiary Kazakhmys Corporation LLC("Kazakhmys"). The Group's operations are vertically integrated. Kazakhmysoperates 19 open pit and underground mines and two smelting and refiningcomplexes in the Republic of Kazakhstan. Kazakhmys also owns significant railinfrastructure in Kazakhstan and MKM, a copper products fabrication company inGermany. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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