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OAO Severstal Announces Executive Management Changes at Severstal Resources

04/08/2009 - OAO Severstal announces the appointment of Alexander Grubman as the acting CEO of its Severstal Resources division.

OAO Severstal has named Alexander Grubman as the acting CEO of its Severstal Resources division effective May 1, 2009.
 
In his new position, Grubman replaces Roman Deniskin, formerly CEO of Severstal Resources, who has decided to leave the company.
 
“We are grateful for Roman’s commitment and hard work during his time at Severstal,” commented Alexey Mordashov, CEO of OAO Severstal. “Under his leadership, and with the dedication of his team, Severstal Resources has become one of Russia’s leading iron ore and coal producers, demonstrated by its consistently good results.
 
“Alexander has been with OAO Severstal since 2006 in the role of Chief Operating Officer at Severstal Resources,” continued Mordashov. “Alexander’s substantial management experience will enable the division to continue to grow and strengthen its competitive position.”
 
Grubman (46) joined Severstal Resources in 2006 as an Operating Director, with responsibility for the day-to-day operation of the division. Prior to joining Severstal, he held leading management positions at Coca Cola Co., SunInterbrew and Unimilk. Grubman graduated from the Moscow Technological Institute of Food Industry with a diploma in engineering and mechanics.
 
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.