RusAl Fires Complaints At Potanin

United Company RusAl, the aluminum maker controlled by Oleg Deripaska, may call for a meeting of Norilsk Nickel shareholders after rival investor Vladimir Potanin extended his control of the board.

Norilsk's board did not represent the interests of all its shareholders when electing a new chairman and chief executive on Monday, RusAl said Tuesday in an e-mailed statement.

Potanin, Norilsk's largest investor, was chosen as chairman and Sergei Batekhin, deputy CEO of Potanin's investment company, Interros Holding, was selected as Norilsk's new CEO.

The board's meeting, its first since directors were elected by shareholders a week earlier, showed "the board is controlled by Interros and does not represent the interests of all shareholders," said RusAl, which has a 25 percent stake in Norilsk. Interros' "boardroom conduct is unsuitable," the statement said.

"The board is balanced and professional, which will ensure a quality of discussion and decision making at the company in the interest of all shareholders," Interros said in a statement. Norilsk spokeswoman Yelena Kovalyova declined comment.

RusAl said it would speak with minority shareholders about the possibility of electing an enlarged board of 13 directors at an extraordinary shareholder meeting.

Norilsk dropped 2.8 percent, or 159.66 rubles, to 5,602.05 rubles on the MICEX stock exchange.