Peter Hambro returns to Russian gold miner Petropavlovsk

Section:

By Henry Sanderson
Financial Times, London
Thursday, September 27, 2018

City veteran Peter Hambro has returned to the Russian gold miner he co-founded, Petropavlovsk, following his ousting after a shareholder revolt.

Mr. Hambro will be president of the company and a senior adviser to the board, the company said today.

... Dispatch continues below ...



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Mr. Hambro was ousted as an executive in June 2017 by shareholders, following a motion called by Russia's Renova Group, which is led by billionaire Viktor Vekselberg. He founded the gold miner with Pavel Maslovskiy, current chief executive, in 1994.

Mr. Maslovskiy as well as Roderic Lyne, a former British ambassador to Russia, and Robert Jenkins were all reappointed to the board of Petropavlovsk in June after a second shareholder revolt led by two offshore funds. They were backed by the company's biggest shareholder, Kenes Rakishev, who launched his own cryptocurrency last year.

Shares in the group rose 2.5 percent this morning. ...

... For the remainder of the report:

https://www.ft.com/content/49b81b64-c227-11e8-95b1-d36dfef1b89a

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