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Russian Billionaire Prokhorov Quits as General Director of Nickel Giant

General director of the world’s largest nickel producer Norilsk Nickel Mikhail Prokhorov decided to quit his position at the company. Prokhorov came to media attention in January after he was detained in French Courchavel as part of investigation into international prostitution ring. Detention led to a split between Prokhorov and his long-time partner, one of Russia’s richest men Vladimir Potanin. Potanin and Prokhorov decided to split their assets, with Prokhorov establishing a new energy company.Prokhorov was quoted by the nickel miner’s press service as saying: “In the process of creation of a new company on the basis of Norilsk Nickel’s energy assets, it became clear that it’s impossible to simultaneously serve as Norilsk Nickel’s executive and form a new business. There is a natural conflict of interests. Since the work to create my new business has already started and is actively taking place, I made a decision to resign from my positions in Norilsk Nickel ahead of time.” Mikhail Prokhorov said that “it is very important that such solution would provide for a calm and reliable operations of the many thousands of Norilsk Nickel’s workers”. He also stressed that he will see all of the projects he’s been doing at the company to the end.Mikhail Prokhorov presented the candidacy of his deputy Denis Morozov as the new general director. The governing board of Norilsk Nickel recommended Morozov for approval of the board of directors.In addition to the Courchavel detention, Mikhail Prokhorov has lately been in the news in connection with his marriage bet. Russian media has been reporting widely that Prokhorov, who is going to turn 42 in the first days of May, made a bet that he will get married before that date. Since no suitable candidate was found to fill position of the billionaire’s wife for life, Prokhorov decided to find someone and to marry her for 5 days only in order to fulfill the debt. Russian media reported that the businessman plans to spend $10 million on wedding festivities to be held at private islands at Maldives.

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