LONDON (dpa-AFX) - Iron ore pellets manufacturer Ferrexpo Plc.'s (FXPO.L) non-executive director Kostyantin Zhevago will leave the board with immediate effect, following Zhevago's detention by French authorities.
'The Board has been informed that Mr Zhevago is prepared to step down from the Board of Ferrexpo plc immediately. The Board is taking steps to document his resignation formally and will update the market as appropriate,' the company said in a statement on Thursday.
Earlier in the day, Ferrexpo said that the detention of Kostyantin Zhevago by the French authorities was unrelated to matters at the company.
According to reports, Zhevago, the controlling shareholder of Ferrexpo, was detained in France on Tuesday at Ukraine's request on suspicion of embezzlement and money-laundering linked to his banking business at home.
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