Potanin becomes Norilsk Nickel head

Norilsk Nickel’s board has elected billionaire Vladimir Potanin as its new CEO in a deal expected to put an end to a long-standing feud between the company’s core shareholders, a source familiar with the outcome of the board meeting said on Monday, RIA-Novosti reports.
Norilsk Nickel’s board of directors also prematurely terminated the powers of its current General Director Vladimir Strzhalkovsky. Previous media reports said Strazhlkovsky will resign with a $100 million golden parachute envisaging a $50 million lump sum payment and two $25 million compensation payments during the year.
Norilsk Nickel’s core shareholders RusAl, owned by Oleg Deripaska, and Interros holding company, controlled by Potanin, signed a peace deal on December 10 to settle their long-standing dispute over the company’s corporate management and strategy.