Sergei Vybornov, chief executive of Alrosa, has been omitted from the company’s new board of directors, known as the Supervisory Board, according to a company announcement posted after the annual general shareholders meeting on June 20.



Other changes in board membership have also been disclosed in the new board listing; these suggest the impact of the financial crisis on diamond giant Alrosa's operations, and of problems reportedly uncovered by the Accounting Chamber, the independent Russian state auditor. The Chamber says it cannot disclose the outcome of its audit early this year.



Alrosa said it would issue a statement later.



The new 15-member board has 5 representatives of the Sakha Republic, including Sakha President Vyacheslav Shtirov; the 2007-2008 board had 6 Sakha representatives, so the Sakha representation has been reduced in line with the 32% shareholding in Alrosa held by the regional government.



The Alrosa management had two seats on the old board - the Chief Executive Officer Sergei Vybornov and the Vice President, Ivan Demyanov. Vybornov has been omitted from the new listing, and Demyanov remains. No CEO of Alrosa has been excluded from the board before.



The federal government representation on the board continues to be headed by Deputy Prime Minister and Finance Minister Alexei Kudrin. Alexander Akhpolov of the federal Finance Ministry also continues to sit on the diamond company’s board. Added to the new seating arrangement is Vladimir Rybkin, head of the state diamond stockpile agency Gokhran, which is now the principal buyer of Alrosa diamond production.