PJSC Polyus (LSE, MOEX: PLZL) ("Polyus", or the "Company") announces the appointment of Alexey Vostokov as a new Chief Executive Officer of the Company.
Pavel Grachev, who has served as the Company’s CEO since 2014, steps down from his role to focus on his own business projects. Mr. Grachev will also resign from the Board of Directors of the Company on 12 April 2022.
Mr. Vostokov joined Polyus in 2014. Since then, he has held a number of executive positions within the Company’s corporate division. Alexey Vostokov is also a member of the Board of Directors of PJSC Lenzoloto.
Prior to joining Polyus, from 2010 to 2013, Mr. Grachev served as Chief Executive Officer of the leading potash producer Uralkali and then of the Far East and Baikal Region Development Fund. Prior to this, from 1997 he held a number of executive positions in international investment and law firms. He has also previously served on the Boards of Uralkali, PIK Group (as Chair) and Polymetal.
Alexey joined Polyus in 2014 following a successful career in leading venture capital companies where he was responsible for corporate, legal and M&A matters. Alexey served as a Board member and corporate secretary of PJSC Polyus, and currently serves as a member of PJSC Lenzoloto Board. Being the head of Polyus’ corporate division, Alexey was actively involved in a number of landmark transactions at Polyus, including Polyus Re-IPO and acquisition of Sukhoi Log deposit. Alexey was also responsible for corporate governance and international support of the group.
Polyus is the world’s fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
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This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.