NLMK BoD approves composition of Management Board

Press release

06 March 2017

NLMK Board of Directors approves new composition of the Management Board

At a meeting held on the 3th of March, directors of NLMK Group (LSE:NLMK), an international steel company with assets in Russia, the USA and the EU, approved a new membership of the Management Board:

· Mr. Oleg Bagrin, NLMK Group CEO, Chairman of the Management Board

· Mr. Grigory Fedorishin, Senior Vice President, Deputy Chairman of the Management Board (a newly created position)

· Ms. Tatyana Averchenkova, Vice President, Operational Efficiency (new Management Board member)

· Mr. Ilya Guschin, Vice President, Sales

· Mr. Barend De Vos, Vice President, International Operations

· Mr. Sergey Likharev, Vice President, Logistics

· Mr. Sergey Filatov, Managing Director of Lipetsk site

· Mr. Stanislav Tsyrlin, Vice President, HR & Management System

Mr. Grigory Fedorishin, who previously held the position of Vice President for Finance, was appointed to position of Senior Vice President, Deputy Chairman of the Management Board. This position is being introduced at NLMK Group for the first time. Grigory Fedorishin will oversee the elaboration and execution of the new strategic phase.

Sergey Karataev, who previously held the position of Deputy CFO, has been appointed Acting Vice President for Finance.

Tatyana Averchenkova, Vice President for Operational Efficiency, joined the Management Board.

Biographies

Grigory Fedorishin served as NLMK Group Vice President for Finance from 2013 until March 2017. In 2016 he was also General Director on NLMK Long Products. From 2011 to 2013 he served as NLMK Director of Strategy and Business Development. From 2009 to 2011 served as an investment manager at Libra Capital, a Moscow-based investment management company. From 2001 to 2009 Grigory worked for PricewaterhouseCoopers consulting in various capacities, finally becoming Director of the Business Restructuring Group. Mr. Fedorishin graduated from the Academy of Finance (Moscow). He holds an MBA from INSEAD (France, Singapore), and is a CFA (Certified Financial Analyst) charterholder.

Sergey Karataev joined NLMK Group in February 2016 and has up till now held the position of Deputy CFO. Prior to joining NLMK, he served as Deputy General Director for Economics and Finance at Freight One since 2012, before this he served as Financial Director at T.A.Management, the management company of UCL Holding since 2011. Prior to that for more than 12 years he held a variety of financial management positions in Russian and international companies, in particular at Rostselmash Plant, and Novartis International AG (Basel, Switzerland). Mr. Karataev graduated from the Academy of Finance, majoring in Finance & Credit. He holds an MBA from INSEAD (France). Ph.D. in Economics.

Tatyana Averchenkova has been with NLMK since 2001. In April 2016, she was appointed Vice President for Operational Efficiency. She previously served as Director for Controlling NLMK Group and held various senior management positions in the Strategy Department. Ms. Averchenkova was graduated from Lipetsk State Technical University, majoring in Economics & Management.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK's metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The Company's liquid steel production capacity is over 17 million tonnes per year.

NLMK has the most competitive cash cost among global manufacturers; and one of the highest profitability levels in the sector. In 9M 2016, the Company generated $5.7 billion in revenue and $1.4 billion in EBITDA. As of 30 September 2016, Net debt/EBITDA stood at 0.39х. The company has an investment grade credit rating from S&P and Fitch.

NLMK free-float is 16%, its ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI). For more information on shareholder structure, please follow the link. 

In 2016 NLMK Group received Steel Industry Leadership Award from S&P Global Platts, a global analytical agency.