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EN+ executive chair Greg Barker to step down

Former British Minister Greg Barker will retire as senior chairman of EN + as the Russian metals group considers splitting its international operations into a new company.

Barker, who served as climate minister in David Cameron’s government and is a British fellow, has submitted his resignation, the Moscow-based company said Monday. EN + is the efficient parent company of Rusal, the largest aluminum manufacturer outside of China. It supplies about 6 percent of the world’s aluminum.

“Barker’s resignation and departure from the group will take effect after a short period during which Lord Barker will assist in the transfer of the chairmanship to Christopher Bancroft Burnham, the company’s senior independent director,” the statement said.

EN + also said it is considering plans to eliminate its international assets, which include bauxite mines in Guinea and an alumina plant in Ireland vital to European carmakers. However, it was said that the strategic review was at an early stage.

Reports over the weekend said Barker was looking to run the spin-off company.

“The group confirms that it is currently examining its strategy with respect to Russell. The options under consideration include the possibility of eliminating Russell’s international business,” it read.

EN+ executive chair Greg Barker to step down Source link EN+ executive chair Greg Barker to step down

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