May 28, 2018 / 5:26 AM / 7 months ago

Sulzer says Vekselberg-allied board member resigns

ZURICH, May 28 (Reuters) - Swiss pumpmaker Sulzer said on Monday that Axel Heitmann, one of four representatives of Russian investor Viktor Vekselberg's investment company Renova on its board, had submitted his resignation.

After the move, Sulzer's board will consist of seven members, three of whom represent Renova. The Swiss company and the Russian oligarch Vekselberg have been reordering their relationship since he was hit by U.S. sanctions this year and was forced to cut his stake to less than 50 percent. (Reporting by John Miller; Editing by Clarence Fernandez)

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