Mechel Reports Changes in Management
March 17 2016 - 10:05AM
Mechel OAO (NYSE:MTL) (MOEX:MTLR), a leading Russian mining
and metals company, reports that Alexey Ivanushkin is leaving his
post of Mechel OAO’s First Deputy Chief Executive Officer.
The post of the company’s First Deputy Chief
Executive Officer will be discontinued and its functions
redistributed among other management board members.
“Alexey Ivanushkin has been working for Mechel
since its founding day. In different times, he was in charge of the
most critical issues — preparing for IPO, running steel and
ferroalloy assets, managing mergers and acquisitions. I am
sincerely grateful to him for his immense contribution to Mechel’s
development and I respect his decision to leave the company after
completing the hardest part of negotiations with lender banks on
our debt restructuring to pursue his own projects. Alexey
Ivanushkin will continue working in the company’s Board of
Directors for several months more to ensure smooth transition of
managerial powers and credentials,” Mechel OAO’s Chief Executive
Officer Oleg Korzhov noted.
Prior to his appointment as Mechel OAO’s First
Deputy Chief Executive Officer in 2014, Alexey G. Ivanushkin has
been working as the Chief Executive Officer of Oriel Resources Ltd
(part of Mechel Group) from 2009 to 2014. He served as Mechel’s
Chief Operating Officer from 2004 to 2009. From 2003 to 2004 Mr.
Ivanushkin held the position of Mechel Steel Group OAO Chief
Executive Officer. From 1999 to 2002 Mr. Ivanushkin served as the
Chief Executive Officer of Chelyabinsk Metallurgical Plant. From
1993 to 1999 he was employed as the Director of the Department of
Ferrous Metals and Ferroalloys in the Moscow office of Glencore
International AG.
Mr. Ivanushkin has a degree in economics and
international relations from the Moscow State University of
International Relations (MGIMO).
Mechel is an international mining and steel company
which employs over 67,000 people. Its products are marketed in
Europe, Asia, North and South America, Africa. Mechel unites
producers of coal, iron ore concentrate, steel, rolled products,
ferroalloys, heat and electric power. All of its enterprises work
in a single production chain, from raw materials to high
value-added products.
Some of the information in this press release may
contain projections or other forward-looking statements regarding
future events or the future financial performance of Mechel, as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. We wish to caution you
that these statements are only predictions and that actual events
or results may differ materially. We do not intend to update these
statements. We refer you to the documents Mechel files from time to
time with the U.S. Securities and Exchange Commission, including
our Form 20-F. These documents contain and identify important
factors, including those contained in the section captioned “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in our Form 20-F, that could cause the actual results to differ
materially from those contained in our projections or
forward-looking statements, including, among others, the
achievement of anticipated levels of profitability, growth, cost
and synergy of our recent acquisitions, the impact of competitive
pricing, the ability to obtain necessary regulatory approvals and
licenses, the impact of developments in the Russian economic,
political and legal environment, volatility in stock markets or in
the price of our shares or ADRs, financial risk management and the
impact of general business and global economic conditions.
Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
Mechel PAO (NYSE:MTL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mechel PAO (NYSE:MTL)
Historical Stock Chart
From Apr 2023 to Apr 2024