Russian businessman Dmitry Mazepin has ceded control of Russian potash producer Uralkali, the company said on Monday.

"Dmitry Mazepin has stopped being the controlling person of the company after he sold a controlling stake in Uralchem Fundamentals LLC, which in turn has the right to indirectly exercise 100% of the votes in Uralkali," Uralkali said in a statement.

It said Mazepin had sold 52% of his previous 100% holding in Uralchem Fundamentals, and had resigned from the governance bodies of Uralkali's immediate shareholder Uralchem JSC.

(Reporting by Reuters)