Mikhail Prokhorov, Russia’s second richest man, will take the post of CEO of the country’s top gold producer Polyus Gold (PLZL.MM) (PLZLq.L) after the board sacked former CEO Yevgeny Ivanov, Polyus said on Thursday.

Polyus said on Wednesday it will return assets of Kazakh miner KazakhGold (KZGq.L) to their former owners in exchange for about $509 million, clearing the way for a larger London listing by the Russian miner.

Prokhorov owns about one third of Polyus’ shares.

Ekaterina Salnikova, which works at Prokhorov’s Onexim group, was elected the new chairman, replacing Prokhorov.

Ivanov, as Chairman and Chief Executive Officer of KazakhGold Group Limited, will be engaged in Polyus Group’s top-priority international projects, the statement said.

(Reporting by Aleksandras Budrys)