HOTLINE: Nyrstar could add former EU Commissioner to board

As the market focuses on whether Trafigura might put a nominee on Nyrstar’s board, it has emerged this week that former European Commissioner Viviane Reding could also sit on the board.

In a document which was recently made public, the EU Commission gave consent for the Luxembourg politician to become a member of the board at Nyrstar, as long as she refrains from lobbying for the zinc producer for 18 months.

This comes amidst speculation that Trafigura, which has just boosted its shareholding in Nyrstar to over 15%, might also want to take a seat on the board. If it ups its stake to over 20% Trafigura could also ask to call a shareholder meeting.

Nyrstar has said that “no decision” on additional board members have been made.

“It is the preserve of our shareholders to appoint additional members to the Nyrstar board,” a spokesman for the company said.

Reding most recently served as EU Justice Commissioner, and has also been the commissioner for education and culture, and for telecommunications and media.

She is a member of the European parliament, and the European People’s Party, the party that nominated Jean-Claude Juncker to become president of the European Commission.

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