Nordgold Announces Changes to its Board

  • New Independent Chairman, INED, and SID appointments
  • The Nordgold Board’s composition now fully compliant with the UK Corporate Governance Code
  • London, United Kingdom, 19 March 2021 – Nord Gold UK Societas ("Nordgold" or the "Company"), the internationally diversified gold producer, announces that Michael Nossal has joined the Nordgold Board as Independent Non-Executive Chairman with effect from 19 March 2021.

    Mr Nossal replaces David Morgan, who was appointed Chairman in 2014. Mr Morgan joined the Board as an Independent Non-Executive Director in 2010 and is consequently no longer considered independent. He has however agreed to stay on in the role of Deputy Chairman.

    Nordgold also announces the appointment of Yulia Chekunaeva as a new Independent Non-Executive Director with effect from 19 March 2021, bringing more than 20 years’ experience from capital markets and the natural resources sector, with a focus on ESG.

    Additionally, Brian Beamish, an Independent Non-Executive Director, has been appointed as Senior Independent Director, with effect from 19 March 2021.

    The Company also announces that Roman Vasilkov has stepped down as a Non-Executive Director nominated by Nordgold’s major shareholder, Alexey Mordashov, with effect from 19 March 2021. The Board sincerely thanks Mr Vasilkov for his valuable contribution to Nordgold and wishes him every success in his future endeavours.

    With these changes, Nordgold now has five Independent Non-Executive Directors, including the Chair, and nine Board members in total, therefore fully compliant with the UK Corporate Governance Code’s Board composition requirements. This meets the commitment made earlier in the year to become compliant.

    Brian Beamish, Senior Independent Director, said:

    “On behalf of the Board, I would like to thank David for his outstanding leadership of Nordgold during his time as Chairman which was a very successful period for the company. I welcome his decision to remain on the Board as a Non-Executive Director and Deputy Chairman, meaning we can continue to benefit from his vast experience. We are delighted to confirm Michael as the new Chairman of Nordgold. He brings with him huge knowledge of the mining sector, proven leadership credentials, as well as a deep understanding of Nordgold given his previous non-executive role on the Board. Similarly, we very much look forward to Yulia joining the Board. She brings a tremendous track record in the sector across both investment banking and corporate roles.”

    Michael Nossal, Nordgold’s Chairman, said:

    “It is a privilege to join the board as Chairman at this exciting time for Nordgold and the industry. Nordgold has matured into an established gold producer, with a strong operating track record, a diversified portfolio of assets, an exciting development pipeline and a proven ability to grow organically. Nordgold has also demonstrated a commitment to strong environment, sustainability, and governance principles and today’s announcement that the Board has become fully compliant with the UK Corporate Governance Code is another example of that. As Chairman, maintaining the company’s focus on continuous improvement of its ESG standards will be a key priority for me.”

    The Nordgold Board’s current composition is:

    1. Michael Nossal, Independent Non-Executive Chairman, since 2021.

    2. Brian Beamish, Senior Independent Non-Executive Director, since 2018.

    3. Yulia Chekunaeva, Independent Non-Executive Director, since 2021.

    4. Gregor Mowat, Independent Non-Executive Director, since 2017.

    5. John Munro, Independent Non-Executive Director, since 2015.

    6. David Morgan, Deputy Chairman, Non-Executive Director, since 2010.

    7. Alexey Mordashov, Non-Executive Director, since 2012.

    8. Nikolai Zelenski, Chief Executive Officer, since 2010.

    9. Evgeny Tulubensky, Chief Legal Officer, Director of ESG, since 2014.

    Professional profiles:

    Michael Nossal

    Michael is a senior resources industry executive with more than 30 years’ experience in a range of commodities, jurisdictions and roles. This includes public company board experience and senior positions in business development, exploration and operations with companies including Newcrest, MMG and WMC Resources. He previously served as an Independent Non-Executive Director of Nordgold from 2010-2015, chairing the Remuneration Committee and was member of the Audit and Safety and Sustainable Development committees. Michael is a non-executive Director of ASX-Listed IGO limited and holds a BSC from Monash University and an MBA from the Wharton School of the University of Pennsylvania.

    Yulia Chekunaeva

    Yulia is a senior natural resources executive with more than 20 years’ experience spanning positions in equity research, commercial and investment banking, as well as recently public markets facing role at a global LSE-listed energy and metals industrial group, with an industry leading strategy for ESG turnaround and focus on climate change. She is currently a member of Executive Management Board at En+ Group and holds qualifications from the Harvard Business School, LSE, and Warwick Business School.

    Enquiries

    Nordgold
    Olga Ulyeva
    Head of Corporate Communications
    olga.ulyeva@nordgold.com

    Powerscourt
    Peter Ogden Tel: +44 (0) 20 7250 1446

    About Nordgold

    Nordgold is an internationally diversified one million ounce gold producer with over 8,000 people operating a portfolio of ten mines (in Burkina Faso, Guinea, Russia and Kazakhstan) and a number of development and exploration projects in West Africa, Eurasia and the Americas. Since its foundation in 2007, Nordgold has established a global reputation as a leading developer of tier one gold mining assets with a proven commitment to community engagement, sustainability, efficiency and operating in an environmentally responsible manner. Since 2013, Nordgold has successfully constructed three gold mines, including two in Burkina Faso (Bouly and Bissa) and most recently, the Gross mine in Russia.

    Press release
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