– RUSSIA, Moscow – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of the company’s SVP for Economics and Management Oleg Korzhov as Mechel OAO’s CEO. This decision was approved by the company’s Board of Directors and is valid starting on January 1, 2014. Evgeny Mikhel, who occupied this post since 2010, left the company by his wish.
“Oleg Korzhov is an expert in his field, with a great experience. We are sure that he can bring Mechel to a new level of development and successfully resolve the tasks that the company faces,” said Board Chairman, Igor Zyuzin.
Before his appointment, Oleg Korzhov is SVP for Economics and Management of Mechel OAO since October 2011. From April 2009 to October 2011 he was Mechel OAO’s VP in charge of business planning and analysis. From July 2008 to April 2009 he had the position of Deputy CEO for economy and finance of Mechel Management Company OOO. Before that he was working as Director of the Economy and Planning Department at Mechel Management Company OOO for two years. From 2005 to 2006 Mr. Korzhov held the position of director for the economy and planning office at Mechel OAO. He was Director for economy and finance at Nizhnetagilsky Metallurgical Plant (NTMP) of Evrazholding Company OOO from 2003 until 2005. In the period between 1998 and 2003, he was Deputy Head of Economy Department and then head of the economy department at Nizhnetagilsky Metallurgical Plant OAO. From 1997 to 1998 he was Executive Officer of Nikoremstroy OAO and in 1995-1997 — deputy CEO for economy and finance Nikoremstroy OAO (NTMP OAO’s subsidiary). In the period from 1993 to 1995, he worked at various positions at Nizhnetagilsky Metallurgical Plant.
He graduated from Urals Polytechnic Institute named after S. M. Kirov in 1993 with a degree in economy and management in metallurgy. He had his post-graduate education in the Academy of National Economy under the Government of the Russian Federation with a degree in general management in 2002. He has a Ph.D. in Economy.
About Mechel
Mechel is an international mining and steel company which employs over 80,000 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.
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