Russia's Uralkali elects Putin ally as board chairman

by Reuters
Wednesday, 26 March 2014 16:33 GMT

MOSCOW, March 26 (Reuters) - The board of directors of Russian potash producer Uralkali has elected Sergei Chemezov, the head of Russian state conglomerate Rostec, as its chairman, Uralkali said in a statement.

Chemezov, a powerful ally of Russian President Vladimir Putin, joined Uralkali's new board of nine directors this week, signalling greater government influence in the world's largest potash producer.

"We will work efficiently in the interests of all shareholders while observing corporate governance best practice," Chemezov said in a statement. (Reporting by Polina Devitt; Editing by David Goodman)

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