Kazakhstan copper tycoon to leave his post in Kazakhmys in May

Chairman of Kazakhmys Vladimir Kim will leave his post after the general meeting to be held in May 2013, the company’s press-service writes. Vladimir Kim will be replaced by Simon Hill, the current executive director of the group. Over the last five years he was heading the audit commission of the board. Before taking the position in Kazakhmys, Hill worked in several managerial positions, including COO in Jardine Fleming Limited, deputy managing director in CathayPacific, CEO of the London Metal Exchange, non-executive director and chairman of Panmure Gordon&Coplc. Vladimir Kim announced his decision to transfer the authority in May 2012. After the reshuffles he will retain his membership in the board and is not planning to change his share in the company. Kim is the biggest private shareholder of the group (owns a 25.7 percent stake). According to Forbes, 52-y.o. Vladimir Kim is the richest man in Kazakhstan. His wealth was estimated at $3.5 billion in 2012. Kazakhmys is the biggest copper producer in Kazakhstan and one of the leading producers in the world. The company owns 16 acting mines, 10 mining plants and 2 copper-smelting plants.