Most independent directors leave Nordgold board

MOSCOW. March 9 (Interfax) - Most non-Russian independent directors on the board of directors of Nordgold have stepped down, including Michael Nossal, Brian Beamish, David Morgan and John Munro, the gold miner reported.

Gregor Mowat and another independent director, En+ Group management board member Yulia Chekunaeva, remain on the board at this point. Nordgold's board also includes CEO Nikolai Zelenski and legal affairs and ESG director Evgeny Tulubensky.

Nordgold owner Alexei Mordashov has been included in the European Union's sanctions list, but he has handed control of the company to the mother of his children and also stepped down from the board of directors.

After the start of the military operation in Ukraine, foreign independent directors began to leave the boards of Russian companies and companies associated with Russia en masse.

Nordgold, Russia's fifth largest gold producer, also has assets in Kazakhstan, Guinea and Burkina Faso. Mordashov is the company's principal beneficiary with 99.9%.