Basic Element appoints new CEO, Deripaska to chair board
MOSCOW. July 24 (Interfax) - Basic Element has re-appointed Gulzhan Moldozhanova as CEO, the company said in a press release.
Moldozhanova replaces Oleg Deripaska, who will chair the supervisory councils.
She was CEO prior to Deripaska's appointment to the post in March 2009, during the height of the crisis.
"Basic Element has successfully overcome the challenges faced during the global economic downturn while also resolving its debt issues. It is now ready to move to a new stage of development and to implement a revised long-term strategy which reflects current international and Russian market conditions. The company's key objective is to increase the competitiveness and efficiency of its businesses by further strengthening the executive team and implementing best practices in management and operational processes and social investment initiatives. Basic Element will also continue to identify new projects and opportunities for its business development," the company said.
