Polymetal chairman stands down amid ongoing Russia-Ukraine conflict

Anglo-Russian precious metals outfit Polymetal International announced a series of departures from its boardroom early on Monday as the company continues to struggle.

Polymetal revealed that chairman Ian Cockerill will be stepping down from the board after almost three years in the job, with immediate effect, while non-executive directors Ollie Oliveira, Tracey Kerr, Italia Boninelli, Victor Flores, and Andrea Abt will also stand down from the firm's board.

Shares in the FTSE 100-listed firm have recently tumbled as much as 80% as both the beleaguered Russian gold miner and steelmaker Evraz struggled amid sanctions against Moscow.