OREANDA-NEWS. On May 29, 2007 OJSC Polyus Gold (RTS, MICEX and LSE – PLZL), Russia’s leading gold producer, announced that Pavel Skitovich has taken up the duties of General Director (CEO) of the Company.  The decision to appoint Mr. Skitovich as CEO of Polyus Gold was taken by the Board on May 14, 2007, reported the press-centre of  OJSC Polyus Gold.

In a welcome address to the senior management and other key personnel, Mr. Skitovich noted that the top priority for Polyus Gold would remain “further development of operations in order to reach the Company’s long-term objectives as stipulated in a Strategic Plan prepared up to the year 2015;  this includes more than tripling gold production in that period, launching new production facilities and growing the mineral resource base”.  Among the management’s primary tasks Mr. Skitovich also mentioned the introduction of a cost cutting programme and developing the mechanism and resources to launch new investment projects.

Mr. Skitovich also stressed that the management would remain focused on developing one of the Company’s most important assets – the team of highly qualified mining professionals that already work at Polyus.  As a matter of personal interest, Mr Skitovich will  be following the progress of training and development of the personnel as well as social programmes in the regions of the Company’s operations.

Note for editors:
Pavel Skitovich born in 1965 in Moscow. In 1987 he graduated from the Moscow State Institute of International Relations (MGIMO). In 1987-1993, he served as attachй and then vice-consul at the USSR Embassy in Uganda. In 1993-1995 he worked as senior consultant at Coopers & Lybrand. In 1995-1997 he served as financial analyst at the Investment Bank Alfred Berg (IB ABN AMRO subsidiary). In 1997-1999 he served as deputy director for corporate structures, RAO Norilsk Nickel. Since 1999 till 2005 he served as vice president, then deputy director general for strategy and corporate issues of OJSC Power Machines. In 2004 he worked as executive director for OJSC OMZ. In March 2006 Pavel Skitovich was appointed as member of the management board of Interros holding company.