Polyus Adds 4th Independent Director

Polyus Gold said Thursday that its shareholders voted to add a fourth independent director to the board along with two representatives each for the company's rival co-owners.

Polyus is the last direct battleground in the protracted asset split between billionaires Mikhail Prokhorov and Vladimir Potanin. Each owns about 30 percent.

The nine-person board will include Prokhorov and one other representative of his Onexim Group. Potanin's Interros also received two representatives, and Polyus CEO Yevgeny Ivanov will remain on the board. An analyst said the results of the voting favored Prokhorov, who had more supporters than Potanin on the previous board. "It looks like Onexim was better prepared for the annual general meeting," said Mikhail Seleznyov, of Deutsche Bank.

The meeting decided to allot 562 million rubles ($23.80 million) for dividend payments for 2007, or 2.95 rubles per ordinary share.