Russia's deputy industry and trade minister, former Petropavlovsk CEO join UGC board of directors

MOSCOW. Nov 21 (Interfax) - The board of directors of Uzhuralzoloto (UGC) consists of four state representatives, a representative of Gazprombank , a company top manager and three independent directors following a shareholders' meeting.

As stated in UGC documents for shareholders, the board of directors now includes Deputy Industry and Trade Minister Mikhail Yurin, department heads at the Industry and Trade Ministry Ivan Markov and Alexei Matushansky, the head of the Department for Property Relations and Privatization of Major Organizations at the Federal Property Agency (Rosimushchestvo) Ilya Karpov, Gazprombank Executive Vice President Maxim Gorodov and UGC Management Company President Semyon Grinko. As independent directors, the board includes the former CEO of Petropavlovsk and Highland Gold Denis Alexandrov, member of the Supervisory Board of the National Settlement Depository (NSD) Dina Mikryukova, and department head at RANEPA's Institute for Public Administration and Civil Service Ivan Danilov.

UGC is one of Russia's biggest gold mining companies. It conducts mining operations at two hubs - Urals, in the Chelyabinsk region, and Siberia in Krasnoyarsk Territory and Khakassia. Konstantin Strukov was the controlling shareholder until recently, but a court ordered that his 67% stake be transferred to the state represented by Rosimushchestvo in the middle of July. Last year, Strukov sold 22% of the gold miner to the Gazprombank structure AAA Capital Management.