OAO Severstal Announces Changes in Executive Management
03/27/2009 - OAO Severstal announces several management changes at its Severstal International Division, including the appointment of a new CEO for Severstal North America.
OAO Severstal announced several management changes at its Severstal International Division, including the appointment of Gregory Mason as the new CEO of Severstal North America.
In addition to his new responsibilities, Mason will also remain CEO of the Severstal International Division of OAO Severstal.
The company said that Ronald Nock, formerly CEO of Severstal North America, would continue to serve on the Severstal North America Board of Directors.
"This appointment will strengthen our North American management team,” commented Alexey Mordashov, CEO of OAO Severstal. “Gregory will continue playing a key role for the company as we respond to the global economic downturn and manage our business appropriately in order to remain an industry leader.”
OAO Severstal, an international metals and mining company incorporated in 1993, focuses on high value added and unique niche products with a successful track record of acquiring and operating high-quality assets in North America and Europe. The company owns mining assets in Russia and the U.S., thus securing its own raw materials supplies. In 2008, Severstal produced 19.2 million tonnes of steel and reported revenues of $22.4 billion, EBITDA of $5.4 billion, and EPS of $2.2.
Severstal International is an operating division of OAO Severstal comprising the North American segment.
