Former energy minister Greg Barker will step down as chairman of a Russian aluminum giant and auditors PwC and KPMG are cutting ties with the country as companies react to sanctions on Moscow.
Lord Barker, who served in David Cameron’s government, announced his resignation from the EN+ board on Monday.
He has served as Chairman since 2017 and was named Executive Chairman in 2019.
He will step down after a transition and hand over to New York-born Christopher Bancroft Burnham, a former United Nations Under-Secretary-General.
The announcement came after auditing giants PwC and KPMG said on Sunday they were cutting ties with their Russian firms.
PwC, which employs 3,700 people in the country, said: “Following the invasion of Ukraine by the Russian government, we have decided that, given the circumstances, PwC should not have a member firm in Russia and therefore PwC Russia will leave the network. ”
KPMG employs 4,500 people in Russia and Belarus, accused of aiding the Kremlin in its attack on Ukraine.
He said: “We believe we have a responsibility, along with other global companies, to respond to the Russian government’s ongoing military attack on Ukraine.
“As a result, our Russian and Belarusian businesses will leave the KPMG network.”
Separately, London-based law firm Norton Rose Fulbright said it would also end its business in Russia.
“Norton Rose Fulbright unequivocally stands with the people of Ukraine who are suffering in the wake of Russia’s increasingly brutal invasion,” he said.
The company said it would support its 50 employees in the country during the transition.
He added: “Some immediate actions are possible and we are taking them. We do not accept any further instructions from companies, entities or individuals linked to the current Russian regime, whether sanctioned or not.
“In addition, we continue to review the possibility of leaving existing work for them when our professional obligations as lawyers allow it. Where we cannot go out of the ordinary business, we will donate the proceeds of this work to appropriate humanitarian and charitable causes.