20.05 Norilsk Nickel VP Strzhalkovsky to Quit
MOSCOW, May 20 (RIA Novosti) Metals and mining giant Norilsk Nickel Vice-President Vladimir Strzhalkovsky announced plans on Monday to quit the company, the world's largest nickel miner, which has been at the center of a shareholder battle for control for several years.
Im quitting the company. Ill work till the end of June and leave. Im considering [job] offers, Strzhalkovsky said.
Strzhalkovsky, who was appointed Norilsk Nickels chief executive in 2008, quit this post in December 2012 as part of a reconciliation deal to end the long-standing feud between the metal giants core shareholders, RusAl and Interros.
Strazhlkovsky resigned with a $100 million golden parachute comprising a $50 million lump sum payment and two $25 million additional payments during the year.
Later, Norilsk Nickels newly elected CEO Vladimir Potanin appointed Strzhalkovsky as vice-president for development of the companys overseas assets.
Norilsk Nickels core shareholders RusAl, owned by Oleg Deripaska, and Interros holding company, controlled by Potanin, signed a peace deal on December 10 to settle their long-standing dispute over the companys corporate management and strategy.
The deal was signed with the participation of Russian billionaire and Chelsea FC owner Roman Abramovich who agreed to buy a stake in Norilsk Nickel through his Millhouse Capital investment vehicle to help the oligarchs end their feud, restore the balance of influence in the company, improve corporate governance and boost the companys market capitalization.
Strzhalkovskys replacement was a key condition of that deal.
