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Rusal appoints independent director as new board chairman

Jean-Pierre Thomas

Russian aluminum company Rusal said on Friday it has appointed independent non-executive director Jean-Pierre Thomas as its new chairman as part of an agreed restructuring in exchange for the lifting of U.S. sanctions.

The previous chairman, Matthias Warnig, stepped down earlier this week after six years at the world’s largest aluminum producer outside China. His resignation was a condition of the deal.

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Jean-Pierre Thomas was elected by the board as chairman with effect from Jan. 1, Rusal said in a filing to the Hong Kong bourse.

Thomas, 61, has been an independent non-executive director on Rusal’s board since June. He was a managing partner at Lazard investment bank for 15 years, leaving in 2013.

He has also been a non-executive independent director on the board of French metals producer Recylex since 2009.

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