Mechel Reports Management Change
December 01 2015 - 10:27AM
Mechel OAO (MICEX:MTLR) (NYSE:MTL)
, one of
the leading Russian mining and metals companies, reports the
appointment of Andrey Ponomarev as Chief Executive Officer of
Mechel-Steel Management Company OOO. He will replace Vladimir
Tytsky who left the company due to retirement.
Andrey Ponomarev, 38, has been working in various Mechel Group
structures for over 16 years. In 1999, after graduating Southern
Urals State University, he joined Chelyabinsk Metallurgical Plant
as engineer in the specialty steels sales department. Since August
2012 until now, he served as first deputy of Mechel-Steel
Management Company's chief executive officer.
"Andrey Ponomarev's professionalism is beyond any doubt. He is a
top executive with a profound understanding of our national steel
industry's trends and challenges. He stood at the inception of our
international steel sales network Mechel Service which has become a
leading player on the Russian market, and took active part in
outlining a strategy for Mechel's steel division based on promoting
high value-added products. Andrey will be tasked with ensuring
stable development of the facilities he is entrusted with, and
preserving the potential formed by the prior manager," Mechel OAO's
Chief Executive Officer Oleg Korzhov noted.
Vladimir Tytsky is one of the most respected managers in
Russia's steel industry. Over nearly half a century of his career,
he went from Chelyabinsk Metallurgical Plant's chamotte ware
workshop master to deputy of the plant's director, then moved to
top posts in Mechel Group, heading the steel division for the past
three years. It was under his direct leadership that despite
unfavorable market conditions Mechel completed several important
technological projects. That includes the launch of the universal
rolling mill at Chelyabinsk Metallurgical Plant. The mill produces
structural shapes and rails which are marketed both domestically
and internationally in a successful example of import substitution.
Vladimir Tytsky has been awarded several state and industry awards,
including the rank of "Russian Federation's Honored Steelmaker".
Vladimir Tytsky has also been elected as deputy to the Moscow
Region's parliament.
"Vladimir's working career is an example of devotion and perfect
service to his profession. I would like to note his extraordinary
contribution to the development of the company's steel division.
Speaking on behalf of thousands of Mechel's employees and myself
personally, I offer him our sincerest gratitude for his hard work
and wish him all the best," Chairman of Mechel OAO's Board of
Directors Igor Zyuzin said.
Prior to his appointment, Andrey Ponomarev worked as first
deputy chief executive officer of Mechel-Steel Management Company
OOO since 2012. In 2009-2012, he headed Mechel Service Global B.V.
in the Netherlands. In 2005-2009, he served as managing director of
Mechel Service OOO. In 2002-2005, he occupied various posts in
Uglemet Trading OOO and Trade House Mechel OOO. In 2000-2002, he
was chief of the analysis bureau in Chelyabinsk Metallurgical
Plant's marketing and sales service. In 1999-2000, he served as
engineer in the specialty steels sales department in Chelyabinsk
Metallurgical Plant's marketing and sales.
In 1999, Andrey Ponomarev graduated Southern Urals State
University with a specialty in engineering and pressure treatment
of metals. In 2000, he graduated Southern Urals State University
with a specialty in economics and finance.
Note for editors:
Mechel-Steel Management Company OOO is a managing company tasked
with operating Mechel Group's steel division facilities. The
company's steel enterprises produce long rolls from carbon and
specialty steels, stainless flat rolls, structural shapes, high
value-added products including hardware and stampings.
Mechel is an international mining and steel company which
employs 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.
CONTACT: Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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