OREANDA-NEWS. OJSC Polyus Gold (RTS, MICEX and LSE – PLZL), Russia’s leading gold producer, today announced the decision taken at a Board Meeting of Directors held on May 14, 2007, to appoint Pavel Skitovich as General Director (CEO) of the Company, with effect from May 29, this year.

According to the press service of the company, chairman of the Board of Directors Mikhail Prokhorov on behalf of the Board expressed gratitude and appreciation to Evgueny Ivanov for his great contribution to Polyus Gold’s success and growth.

Pavel Skitovich was 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. In 1999 he was appointed as deputy director for corporate structures and property management of the LMZ Engineering Moscow affiliate. Since 2001 he worked as vice-president, director of the department for corporate structures of Power Machines. In 2002 he was appointed as vice-president, director for corporate issues and a year later became deputy director general for strategy and corporate issues of Power Machines. In March 2006 Pavel Skitovich was appointed as member of the management board of Interros holding company.

Polyus Gold is the largest gold producer in Russia. In 2006 its gold output totalled 1.2 million ounces. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia).