Potanin called on top managers to fight and not quit due to sanctions

The HEAD of Norilsk Nickel, Vladimir Potanin, who fell under British sanctions on June 29, urged Russian top managers not to quit due to such restrictions. According to him, this is not a solution to the problem,

The largest co-owner and president of Norilsk Nickel, Vladimir Potanin, against whom the British authorities imposed sanctions on June 29, in an interview with RBC urged Russian businessmen and top managers not to sell their assets and not resign due to such restrictions.

“Incentivizing people in business to go out of business, to give up part of their property, to stop managing the businesses that they are in and which are weakening without them is also one of the ways to weaken our economy as a whole,” he said.

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After the start of Russia’s special operation in Ukraine and the introduction of personal sanctions, many top managers, including the heads of Sibur and PhosAgro Dmitry Konov and Andrey Guryev, resigned, and some businessmen sold their assets or reduced their shares below control (for example, owner of SUEK and Eurochem Andrey Melnichenko and founder of AFK Sistema Vladimir Yevtushenkov).

“If at the beginning those colleagues who were the first to face this (sanctions. -) were forced to take such measures, wanting to at least somehow buy time, get a break, now a rethink is coming,” Potanin comments. “We don’t get anything but a respite, in general we don’t solve this problem.” According to him, such decisions “wash out” the layer of the most promising and strong businessmen and managers. “Unscheduled “fire” replacements [of top managers] weaken the business. Secondly, it creates the effect that many are beginning to be afraid to take these positions,” he added.

Therefore, businessmen and top managers must “fight,” the head of Norilsk Nickel is sure. “In particular, at Norilsk Nickel we are making various efforts to counter this. <...> We will not succumb to this hysteria. As long as we have a resource, as long as we can defend ourselves, we will fight and defend ourselves, ”the billionaire emphasized. The company's personnel policy will be based on protecting every managerial position, from president to every other manager, he added.

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At the same time, Potanin claims that the British sanctions against him personally do not directly affect the company's activities: “The sanctions that have been imposed relate to me personally and, according to the analysis that we currently have at Norilsk Nickel, do not affect the company. And, accordingly, our partners and contractors know this.”