Mr Nikitin, aged 52, has been appointed by the Board of Rusal as the CEO of the Company with effect from 1 November 2018. Mr. Nikitin was appointed as the acting CEO of the Company in May 2018 and RUSAL’s Head of Aluminium Division in January 2014. Before that he held the office of Director of Aluminium Division East since October 2013. Prior to that appointment Mr. Nikitin was the Managing Director of Krasnoyarsk aluminium smelter (KrAZ), one of the world’s largest aluminium production facilities. From 2007 to 2010, he was managing director of the Sayanogorsk smelter (SAZ) after beginning his career with RUSAL as a pot operator back in 1993.
Mr. Nikitin was born on 11 March 1966. He graduated from the Moscow State Technical University of Civil Aviation (MSTUCA) in 1989 and from Lomonosov Moscow State University with a degree in Business management (MBA) — production systems in 2009.
As the CEO, Mr. Nikitin is entitled to a base salary of RUB72 million per annum. He is also entitled to an annual discretionary bonus target level of which is 100% of base annual salary, with the exact bonus amount to be determined by the Board subject to recommendation of the Remuneration Committee of the Company and depending on the performance results of the CEO and the Company, in addition to other ancillary benefits. Mr. Nikitin will enter into a contract to amend his current contract with the Company as acting CEO to reflect his appointment as the CEO of the Company, the duration of which is expected to be three years.