OAO GMK Norilsk Nickel, Russia’s biggest mining company, said Tye Burt, nominated as a candidate for a board seat, withdrew his candidacy.
Burt, chief executive officer of Kinross Gold Corp., sent a letter to Norilsk Chairman Vladimir Potanin and Chief Executive Officer Vladimir Strzhalkovsky saying he changed his mind “in light of recent developments,” Moscow-based Norilsk said today in an e-mailed statement.
Luca Cordero di Montezemolo, who heads Fiat SpA, dropped his candidacy yesterday. Montezemolo and Burt were nominated to the 13-strong board by United Co. Rusal, the second-biggest shareholder in Norilsk after Potanin.
To contact the reporter on this story: Yuriy Humber in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Simon Casey at email@example.com