Deripaska came from the Board of Directors of En+

MOSCOW, may 18. /TASS/. The Board of Directors En+ Group has officially accepted the resignation of co-owner Oleg Deripaska from the Board of Directors of the company with immediate entry into force, the company said.

The Council also reaffirmed the commitment Deripaska not to stand for election to the Board of Directors of “RUSAL” at the upcoming shareholders ‘ meeting announced of En+.

After the introduction of us sanctions against Deripaska, RUSAL and En+, the businessman agreed with the proposal of the Chairman of the Board of Directors of En+ Lord Barker to leave the Board of Directors of the company and gave approval for the appointment of new members to the Board of Directors to increase the number of independent Directors.

Replace Deripaska to the Board of Directors of “RUSAL” Lord Barker will offer a current independent Director of En+ Philip Malfeito.

The statement also said that En+ Group, caught in April under the sanctions of the U.S. Treasury, making it difficult to assess their impact and the possibility of introducing additional restrictions in the long term.

“The company continues to be given to the continuation and maintenance of core activities and the protection of the interests of all its investors, holders of global Depositary receipts (GDRs) and partners. The long-term consequences of sanctions and threats of additional sanctions in the future, it is difficult to determine,” – said in a statement.

The U.S. government 6 April 2018 has announced the introduction of sanctions against several Russian officials, businessmen and companies. Among them were Oleg Deripaska and related company RUSAL, the holding Basic element, En+ and “Russian machines”, “the EuroSibEnergo”, “GAZ Group”, the investment company B-Finance and agro-holding “Kuban”.