Alrosa Elects New Supervisory Board

Alrosa the Russian diamond mining company has elected a new supervisory board during a meeting held in the company's headquarters in Mirny, Sakha Republic, Russia, June 20. 

The new board contains a mix of government official from the Sakha Republic where most Russian diamonds are mined, and officials of the national government. Of note is the election to the board of Vladimir Rybkin, the head of Gokhran, the Russian state repository to the board.

Sergei Vybornov, chief executive of Alrosa was omitted, despite being elected to the previous board; however Alrosa vice president, Ivan Demyanov has remained on the board. No explanation for the change was provided.

As profits have been dropped, it was decided that shareholders in Alrosa would forgo their annual dividend distribution.

The supervisory board is the equivalent to a board of directors.