(Alliance News) - Petropavlovsk PLC on Thursday said Chief Executive Denis Alexandrov will remain in his role despite shareholders at the Russian miner's annual general meeting rejecting his re-election to the board.
The resolution to re-elect Alexandrov as a director at Petropavlovsk's AGM on Wednesday received just 47% support.
"Despite the failure of the resolution for the election of Denis Alexandrov as a director, the board is unanimous in its support for Denis and remains confident in his ongoing stewardship and vision for the future of the company," commented Chair James Cameron.
"The board and Denis have therefore agreed that he will continue as the group's CEO," he added.
The FTSE 250-listed gold miner noted that several other proposed resolutions were not approved at the AGM and that they would be discussed with shareholders in the coming months.
Petropavlovsk shares were up 2.8% to 24.32 pence in London on Thursday.
By Will Paige; willpaige@alliancenews.com
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