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Kazakhmys CFO to step down in May

Chairman Vladimir Kim also stepping down

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London-listed copper miner Kazakhmys’ CFO Matthew Hird is to step down from the board in May after six years as the company’s finance boss, it was announced on Thursday.

In a statement, the Kazakhstan focussed company added that Vladimir Kim, its current chairman, would also be stepping down in line with an announcement at last year's annual general meeting where it was said that he would be relinquishing his position within 12 months.

Hird would be replaced as CFO by the current Deputy CFO Andrew Southam, though he will remain with the group until the end of 2013 to ensure a smooth transition. Southam, who has been working for the company since 2006, was appointed Hird's deputy in January 2012.

Hird said, "I have greatly enjoyed my time at Kazakhmys. The listing process and creation of a finance function in the UK and Kazakhstan was an immense challenge, which we successfully achieved."

Simon Heale, currently a non-executive director of the board, has been named as Chairman Kim's replacement. The latter will remain on the board as a non-executive director.

Commenting on his successor, Kim said, "I am delighted that Simon Heale has accepted the position of Chairman. His knowledge of Kazakhmys and our business will be invaluable. I remain committed to Kazakhmys and look forward to contributing and offering support to Simon and the board."

"Having put in place the listing on the London Stock Exchange, secured financing and brought our major growth projects to development, I believe this is an appropriate time for change," Kim added.


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