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(Alliance News) - Evraz PLC on Friday announced that it has promoted Aleksey Ivanov to chief executive of the blue-chip Russian steelmaker.
Ivanov is senior vice president for Commerce & Business Development and has been at Evraz since 2002. Prior to his current role, he held the positions of head of the Steel division and head of the Siberia division.
Alexander Frolov will step down as chief executive on August 31 but will continue as a non-executive director. Ivanov will become chief executive the next day, on September 1.
Aleksey Ivanov said: "I am grateful for the faith that the board of directors is showing in me. The strategic vision for Evraz' development, principles and dedication are shared by all members of the team. I intend to do everything possible to ensure that Evraz strengthens its leading positions while preserving its unique corporate DNA."
Evraz shares were trading up 0.2% at 669.00 pence each in London on Friday.
By Will Paige; willpaige@alliancenews.com
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