RUSAL announces appointment of independent non-executive directors to the Board

UC RUSAL, the world’s largest aluminium producer, announces the appointment of Ms Elsie Leung Oi-Sie, GBM, JP and Mr Barry Cheung Chun-Yuen, JP as independent non-executive directors to its Board of Directors.

Ms Elsie Leung Oi-Sie, GBM, JP, was formerly Secretary for Justice and a member of the Executive Council of the Hong Kong Special Administrative Region (HKSAR) Government. She has been the Deputy Director of the Basic Law Committee of The HKSAR of the Standing Committee of the National People’s Congress of The People’s Republic of China since 2006.

Mr Barry Cheung Chun-Yuen, JP, is the Chairman of Hong Kong Mercantile Exchange, Chairman of the Board of Hong Kong's Urban Renewal Authority, Chairman of the Standing Committee on Disciplined Services Salaries and Conditions of Service, an Alternate Chairman of the Pay Trend Survey Committee, a member of the Commission on Strategic Development and a member of the Standing Commission on Civil Service Salaries and Conditions of Service.

The appointment of Ms Elsie Leung and Mr Barry Cheung will broaden the professional experience of the Board as well as further enhance the company’s corporate governance. Over the years RUSAL has taken major steps to create an effective corporate governance system in line with international best practice. The company has seven committees under the Board of Directors. In 2005, RUSAL adopted a Code of Ethics establishing standards of ethical behaviour to govern relations within the company and with customers, business associates, suppliers, state authorities, the community and competitors. It also serves as a tool to develop a corporate culture based on the highest ethical standards.

Mr Oleg Deripaska, CEO of UC RUSAL said, “Given UC RUSAL’s long-term strategic interest in China and the wider Asian region, we have been looking for directors who have direct experience in these markets to give us advice and Ms Leung and Mr Cheung are ideal choices for the Board. They have extensive and diverse experience in the region. Ms Leung has a strong legal background and Mr Cheung is an expert and pioneer in the Asian commodities and trading community. Their expertise will be of great value to the UC RUSAL Board in helping the Group uphold the highest corporate governance standards and grow its business. We also believe that their decision to join the Board is a strong vote of confidence in the company."

Ms Elsie Leung said: “I look forward to contributing my knowledge and experience to further reinforce the competitive position of RUSAL as a global aluminium leader with a strong focus on the Asian market.”

Mr Barry Cheung said: “I am delighted to join the international team of RUSAL’s Board and pleased to be of service to the global industry leader with my expertise in international and regional business practices.”

The appointment of Ms Elsie Leung is already effective, and Mr Barry Cheung will join the Board of RUSAL immediately prior to the listing.

Based on RUSAL press-service