Eurasian Natural Resources Corporation PLC, together with its subsidiaries, has announced the completion of its corporate governance review.

Announced in June 2011, the review set out to establish a board structure to best support the group through the next phase of its growth and included extensive research of stakeholder opinion. In line with UK corporate governance best practice, the new board will now comprise 11 directors, six of whom are independent non executives.

The board is fully supportive of the findings of the review. The review concluded that the group will be best served with Dr Johannes Sittard remaining as chairman. Mr Felix Vulis has agreed to withdraw his resignation and will continue as CEO with the full support of the board. The board is also pleased to announce the appointment of Mr Mehmet Dalman as the senior independent director and welcomes Mr Terence Wilkinson as a new independent non executive director. These appointments are effective immediately.

Mr Wilkinson is a highly experienced executive in the metals and mining industry, with over 25 years' service at board level. He was CEO and chairman of Lonrho South Africa Limited from 1985 to 1996, then an executive director of Lonhro Plc which became Lonmin Plc. In 2000 he joined Ridge Mining plc as an Executive Director, serving as Chief Executive from 2003 to 2009. He is currently the Non-Executive Chairman of Century Aluminum Co.

ENRC also announces that the Nomination Committee has been renamed the Nomination and Corporate Governance Committee, charged with the additional responsibility of overseeing Group corporate governance. Mr Dalman has been appointed to the Nomination and Corporate Governance Committee.

Commenting, Dr Johannes Sittard chairman of ENRC said that "We have conducted an extensive corporate governance review, whose recommendations have been fully endorsed by the board. We are committed to a strong and independent board. This is important in positioning ENRC for its next phase of growth. The group has continued to perform extremely well and we are particularly pleased that the company will continue to benefit from Felix Vulis’ extensive industry expertise and knowledge of Kazakhstan. We are also delighted to welcome Mr Terence Wilkinson, whose experience at the forefront of the industry will prove invaluable over the coming years."

Mr Mehmet Dalman senior independent director of ENRC said that "I am delighted to represent all of the shareholders of the Group in this important Board position. ENRC enjoys an extremely strong market position and, now this process is behind us, we look forward to continuing the important task of maximizing shareholder value."

Following the review, the Board now has the following composition:

Chairman and non executive Director - Dr Johannes Sittard
Senior Independent Director - Mr Mehmet Dalman
Chief Executive Officer - Mr Felix Vulis
Chief Financial Officer - Ms Zaure Zaurbekova
Chief Commercial Officer - Mr Jim Cochrane
Independent non executive Director - Dr Ameling
Independent non executive Director - Mr Gerhard Ammann
Independent non executive Director - Sir Paul Judge
Independent non executive Director - Mr Roderick Thomson
Independent non executive Director - Mr Terence Wilkinson
Non executive director and representative of Kazakhstan - Mr Marat