Russian billionaire Oleg Deripaska plans to step down as the president of aluminium giant Rusal, the company said in a statement on Friday.
The change comes less than a month after the inclusion of Deripaska and dozens of tycoons on a U.S. government list of Russian oligarchs. While it is not a sanctions list, Western banks may be reluctant to deal with companies whose owners are included.
Deripaska also plans to quit the same role in En+ Group, another company he controls, two sources familiar with the matter told Reuters on Feb. 19.
Hong Kong-listed Rusal is one of the world's largest aluminium producers. Deripaska's En+ owns a 48 percent stake in Rusal, which is a big consumer of hydroelectricity produced by En+'s power companies.