Rusal shakes up board to slip out of US sanctions

Half of the board of Rusal resigned on Thursday as the Russian aluminium giant scrambled to avoid US sanctions targeting its founder Oleg Deripaska.
The firm, a major supplier for industrial firms around the world, is intensifying its efforts to show Washington its determination to become independent from Deripaska, who de facto has controlled the firm but finds himself on a US blacklist.
Even as the 50-year-old billionaire distances himself from the company, Rusal decided to purge itself of the directors Deripaska had appointed.
Seven of the board's 14 directors have resigned, as well as chief executive Alexandra Bouriko. Deripaska did not resign his place on the board, but has previously indicated he doesn't plan to seek reappointment next month. In a statement, Rusal said the resignations were part of "the efforts that have been made by the management of the group to protect the interests of the company and its shareholders since the OFAC sanctions were imposed" last month.