OAO Uralkali named Dmitry Osipov chief executive officer of the world’s largest potash producer after a change in the Russian company’s owners that could see it revive a trading venture with Belarus for the key soil nutrient.
Billionaires Mikhail Prokhorov and Dmitry Mazepin, whose companies today completed the purchase of 47 percent of OAO Uralkali, plan to name a new chief executive officer for the world’s largest potash producer within days, according to two people with direct knowledge of the matter.
Most Russian stocks fell as crude oil slid for the first time in three days and after Mikhail Khodorkovsky, the former billionaire owner of Yukos Oil Co., was freed from prison following more than 10 years in detention.
Alexey Mordashov, who has lost about $1.4 billion of his fortune in a year from a slump in steelmaker OAO Severstal’s shares, says countries need to agree on global cuts in output to save the industry from itself.
Russian shares swung between gains and losses before the Federal Reserve ends its two-day policy meeting and as OAO Gazprom fell after offering Ukraine lower gas prices in a deal championed by President Vladimir Putin.
Belarus agreed to extradite OAO Uralkali chief Vladislav Baumgertner to Russia, days after a plan to change ownership of the potash producer that may end a dispute over joint global sales of the key crop nutrient.
The future of OAO Uralkali’s marketing partnership with Belarus will depend on the Russian potash producer’s management, according to the head of OAO Uralchem, which is buying a 20 percent stake in the company.