Polyus Gold International Chairman to step down

Russia-focussed gold production company Polyus Gold International has announced that Robert Buchan, Chairman of the company, will resign from the board at the conclusion of the company's 2013 annual general meeting.

The company said that Buchan had recently been appointed as President and Chief Executive Officer of Allied Nevada Gold Corp, a US-based gold mining and exploration company, in addition to his position as Executive Chairman of that company.

Polyus Gold International said that its nominations committee, which is comprised solely of independent directors, had initiated a search for a new independent Chairman of the board.

Polyus Gold International's share price was down 4.19% to 200p at 11:58 on Monday.

MF