Mikhail Prokhorov, the General Director of MMC Norilsk Nickel, has been named as a top Russian business leader according to the results of the annual “Russia’s Top Business Leaders” rating, carried out by the American business publication “Institutional Investor”.

The “Russia’s Top Business Leaders” ratings have been carried out by the “Institutional Investor” magazine since 2004, with the results being based on the opinions of leading analysts from the biggest international investment funds. The best top managers are chosen in seven sectors of the economy: oil and gas, metals and mining, electric energy, financial services, telecommunications, mechanical engineering, and the consumer services sector.

The experts take into consideration the strategic approach to the development of production, increased transparency in the companies’ activities and the implementation of international standards. Investors were very approving of the spin off of gold-mining assets to a separate company. The value of shares in MMC Norilsk Nickel and the Polyus Gold company rose to a level significantly higher than the value of MMC Norilsk Nickel shares prior to the separation. In 2006 the company’s capitalization exceeded US $20 billion for the first time.

The American monthly magazine “Institutional Investor” has been published for the last 40 years, and is well known in international business circles.