Embattled Ferrexpo today ramped up the investigation into its dealings with Ukrainian charity Blooming Land by appointing Fiona MacAulay as a new independent director.
MacAulay will sit on the iron ore pellets producer’s independent review committee, which was set up after previous auditor Deloitte found that money paid to the charity by Ferrexpo could have been misappropriated.
London-listed Ferrexpo’s dealings with Blooming Land have dogged the company, and MacAulay (pictured) is the second major hire to the committee, following the appointment of ex-EY man Graeme Dacomb in June. Deloitte resigned in April after the consultancy firm raised questions over the relationship between Ferrexpo’s chief executive Kostyantin Zhevago and the charity.
MacAulay is chairman of Independent Oil & Gas and will chair the remuneration committee. It means Ferrexpo is no longer one of the four FTSE 350 firms without a woman on its board.
