New ALROSA Head Will Be Appointed Soon

Moscow: President of ALROSA will be appointed within a month, said Yury Trutnev, Deputy Prime Minister of Russia.

“The decision concerning new head of ALROSA will be taken within a month,” RIA Novosti quotes him as saying.

Earlier in October Trutnev said that the list of candidates for ALROSA’s presidentship was prepared and should be brought in the Government.

In accordance with the Labour Code of the Russian Federation, the labour contract of ALROSA President Fyodor Andreev is terminated since October 23. Andreev’s decision on resignation was caused by medical reasons.

Andreev will continue as a non-executive Supervisory Board member. First vice-president Ilya Ryashchin has taken over from Mr. Andreev as acting president of ALROSA.

ALROSA is the world’s largest diamond producer by carat. The company is engaged in the exploration, production, processing and sale of diamonds. Its mining operations are located in the Republic of Sakha (Yakutia) and the Arkhangelsk Region. In 2013 ALROSA produced 36.9 million carats of rough diamonds earning RUB 168.5 billion in revenues.