Simon Hill was appointed the Chairman of Kazakhmys PLC Board of Directors in accordance with a decision of the annual shareholders meeting. Thus, Mr. Hill became the first independent Chairman in Kazakhmys’s history. Mr. Hill was a non-executive director of Kazakhmys over five years and was heading the audit committee. Prior to joining Kazakhmys he occupied key positions in well-known international companies, such as Cathay Pacific, Panmure Gordon & Co PLC and London Metal Exchange.
Vladimir Kim who chaired the Board of Directors of Kazakhmys PLC since its listing on the London Stock Exchange in 2005, will carry on as non-executive member of the Board of Directors and will continue to take an active part in the Group’s development as President of Corporation Kazakhmys LLP with his stake in the Company remaining unchanged.
There are no plans on changing the Group’s strategy. Currently Kazakhmys Group is implementing an investment program in the Central-Asian region worth a total of USD6 bn. The program’s priority objective is the development of Kazakhstan’s largest copper fields Bozshakol and Aktogai, which will substantially increase Kazakhmys production capacities.