ALROSA Terminates 3 Executive Committee Members

Moscow: On Thursday, the Supervisory Board of ALROSA decided to terminate the powers of three members sitting on its Executive Committee - Ilya Ryaschin, Sergey Pushkin and Valery Serov.

Ilya Ryaschin, in his time as a vice-president supervising the company's finances, left it a year ago, but remained a member of the Executive Committee. Sergey Pushkin, being a vice-president of ALROSA, oversaw the company's projects in Africa. Valery Serov was the chief geologist of ALROSA.

ALROSA is the largest producer and seller of rough diamonds in the world. The company's revenue for 2016 under IFRS increased by 41% compared with the same period in 2015 and amounted to 317.1 billion rubles. Its net income showed a fourfold increase to the same period in the previous year and reached 133.5 billion rubles. The miner’s net cash flow increased threefold to 111.4 billion rubles.

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