Metalloinvest announces changes to its Board of Directors

– RUSSIA, Moscow –  Metalloinvest announced the appointment of its new Board of Directors, which comprises the following members:

  • · Ivan Streshinsky, Chairman
  • · Galina Aglyamova, Independent Non-Executive Director
  • · Valery Kazikayev, Independent Non-Executive Director· Vadim Levin,Independent Non-Executive Director
  • · Irina Lupicheva, Non-Executive Director
  • · Natalia Chumachenko, Non-Executive Director
  • · Andrey Varichev, Executive Director

Andrey Varichev has been appointed Chief Executive Officer of Management Company Metalloinvest.

Ivan Streshinsky, Chairman of the Board of Directors of Management Company Metalloinvest and Chief Executive Officer of USM Advisors, said: “The changes in structure and composition of the Board of Directors aim to further improve the Company’s corporate governance practices. The knowledge and experience of the new Board members will facilitate determining the most effective ways of executing our strategy.

The Company’s shareholders would like to express their gratitude to Eduard Potapov, who served as the Chief Executive Officer of Management Company Metalloinvest since March 2010. Mr Potapov assumed his role in a challenging economic environment. He managed to give structure to the financial and operational activities of Metalloinvest, and strengthen the Company’s position as Russia’s metals and mining industry leader.

In the current conditions, ensuring stable improvement in the Company’s operational performance and development of production potential become the key factors. Shareholders are confident that Mr Varichev’s extensive operational and management experience in the metals and mining industry, and his in-depth knowledge of the Company’s technical processes will allow him to deliver on these large-scale tasks effectively.

I would also like to thank Mr Moshiri who can be considered as one of Metalloinvest founders. He has been heading Metalloinvest’s Board of Directors for eight years and made an invaluable contribution to the Company’s development. Mr Moshiri became Chairman of USM Holdings’ Board of Directors”.

About Galina Aglyamova

Galina Aglyamova is an Independent Non-Executive Director of the Management Company Metalloinvest. In 1985, immediately after graduating from the National University of Science and Technology “MISIS”, Ms Aglyamova joined NLMK as a planning economist. From 1997, she worked in management positions at NLMK. Between 2006 and 2012, she served as NLMK Group Vice President of Finance.
Ms Aglyamova has a PhD in Economics.

About Valery Kazikayev

Valery Kazikayev is an Advisor to the CEO of Rosneft Overseas S.A. In 1989, he co-founded the Moscow International Business School “MIRBIS”, which continues to be one of the leaders in Russian business education, and became its first Director. From 1991, he was the Executive Director of the Office for Consultations and Technical Cooperation with the European Union on the economic reforms of the Ministry of Economic Development. In subsequent years, he developed and managed commercial export-import enterprises, such as the Moscow Business Group and Rosexportles Corporation. Between 2001 and 2010, he managed a fuelling company for Sheremetyevo airport group, the largest airport group in Russia. Between 2010 and 2013, he served as the First Deputy General Director for Strategic Development at Sheremetyevo International Airport.

In 1976, Valery Kazikayev graduated from the Mining Institute, where he earned a PHD degree in “Economics and business management”, and he is an Associate Professor at the “Economics and industry management” department.

About Natalia Chumachenko

Natalia Chumachenko is the First Deputy General Director at USM Advisors.
Between 1999 and 2011, she held a variety of management positions at VimpelCom telecommunications company and its subsidiaries. In 2011-2012, she was VimpelCom’s Executive Vice President for Mass Market Development in Russia. In 2012-2013, she served as the Vice President for Asset Management at Summa Group diversified holding company.
In 1994, she graduated from Voronezh State University of Architecture and Civil Engineering; in 2001, she earned a degree from Voronezh State University. She is a qualified Master Trainer at Door International training and coaching centre.

About Metalloinvest

Metalloinvest is a leading global iron ore and HBI producer and supplier, and one of the regional steel producers. The Company has the world’s largest iron ore deposits under its operation with the key-note iron ore production cost efficiency.

Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (60%), with other beneficiaries – the companies of Vladimir Skoch and Farhad Moshiri – owning 30% and 10%, respectively.

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