Russia's Uralkali re-elects detained CEO as member of the board

29 November 2013 10:07  [Source: ICIS news]

MOSCOW (ICIS)--Russia's major potash producer Uralkali on Friday re-elected the company's detained CEO Vladislav Baumgertner as a member of the board.

Baumgertner was elected to the company's board of directors in an extraordinary shareholder meeting in Berezniki, Perm region, Uralkali said.

On 26 August, Baumgertner was arrested in Minsk. As a former executive of the Belarusian Potash Company (BPC), Baumgertner faced charges of abusing his powers and up to 10 years in Belarus jail. Baumgertner's arrest followed a dispute between Belarus potash monopoly Belaruskali and Uralkali.

On 22 November, Baumgertner was extradited from Belarus to Russia, and he remains detained in Moscow. Also on 22 November, Uralkali pledged to cooperate with the investigation in Russia.

By: Sergei Blagov
+44 20 8652 3214

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