Confirming previous reports, United Co. Rusal Plc said Feb. 23 that its president, Oleg Deripaska, will be stepping down from his position, and will switch from an executive director to a non-executive director.

To replace Deripaska, current Rusal CEO Vladislav Soloviev will move to the president position while maintaining his executive director role.

The CEO role will then be taken up by current CFO Alexandra Bouriko, who will become the first woman to lead one of Russia's largest mining companies.

All of the changes are effective from March 15.