Rusal chairman quits the firm

RUSSIAN billionaire Viktor Vekselberg quit yesterday as chairman of the world’s largest aluminium producer, UC Rusal, saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging Rusal with Norilsk Nickel, the world’s top nickel and palladium miner.