Steel News

Metalloinvest Announces Changes to Senior Management Team

10/21/2013 - Management Company METALLOINVEST announced the appointment of its new Board of Directors, which comprises the following members:

  • Ivan Streshinsky – chairman of the board
  • Galina Aglyamova – independent non-executive director
  • Valery Kazikayev – independent non-executive director
  • Vadim Levin – 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, 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 chosen 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.”