SVST.L Regulatory News (SVST)

23 Jul 2009 12:17



Severstal Announces Changes to its Senior Management Team

July 22, 2009 Moscow. Sergei Kuznetsov, currently CFO of OAO Severstal, has been appointed as CEO of Severstal International and Severstal North America. Gregory Mason, currently CEO of Severstal International and Severstal North America, will be leaving the company.

Alexey Kulichenko, CFO of Severstal Resources, has been appointed as CFO of OAO Severstal. 

These changes will be effective July 29, 2009.

Sergei Kuznetsov joined Severstal in 2002 to head the Business Planning Group created to acquire foreign assets and develop international projects. In 2004 he was appointed as Chief Financial Officer of Severstal North America (Severstal Dearborn). In 2008 he became Chief Financial Officer of OAO Severstal. Sergei graduated from Bauman Moscow State Technical University. He holds a master of business administration degree (MBA) in finance from California State University.

Alexey Kulichenko jointed Severstal in 2005 as CFO of Severstal Resources. Prior to joining the company, Alexey held leading management positions at Sun Interbrew and Unimilk. He graduated from Omsk Institute of World Economy with a degree in economics. 

Alexey Mordashov, Chief Executive of OAO Severstal, commented:

"We thank Gregory for the contributions he has made to the development of Severstal's international businesses, and we wish him well in the future. Sergei and Alexey are both highly experienced executives, and I am confident that their professionalism and knowledge will continue to guide us through current market conditions while positioning us well for future growth and success." 

Additional information:

OAO Severstal is an international metals and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. Incorporated in 1993, the company focuses on high value added and unique niche products and has a successful track record of acquiring and operating high-quality assets in North America and Europe. Severstal owns mining assets in Russia and in the US, thus securing its supplies of raw materials. Its enterprises are located in Russia, Ukraine, Kazakhstan, United Kingdom, France, Italy, United States and Africa. In 2008, Severstal produced 19.2 million tones of steel. Revenues were $22.4 billion and EBITDA was $5.4 billion. EPS was $2.2.

For further information: 

Dmitry Druzhinin, Investor Relations

Severstal

+7 495 926 77 66

Bette Kovach

Severstal North America

+1 313 317 0569

ekovach@severstalna.com

Natalia Ivanova, Press Office

+7 495 926 77 66