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Rusal appoints new CEO

Windalco's parent company Russian aluminum giant Rusal has appointed a new chief  executive officer  after reporting a 42 per cent increase in third-quarter recurring net profit on the previous quarter as sanctions imposed by Washington were postponed.

 
Yesterday, Rusal named Evgenii Nikitin, who has been acting chief  executive officer since May, as CEO.
 
Nikitin previously headed Rusal's aluminum division.
 
The U.S. Treasury Department in April blacklisted billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including Rusal, citing "malign activities" by Russia.
 
The sanctions have been postponed several times as the United States considers excluding Rusal from the U.S. blacklist if   Deripaska drops his control over the company. 
 
The deadline was last extended to December 12.


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