Mechel Reports New Management Appointments
MOSCOW, June 13, 2012 (GLOBE NEWSWIRE) -- Mechel OAO (MTL), one of the leading Russian mining and metals companies, reports the appointment of Sergei Zhilyakov as the Chief Executive Officer of Mechel Ferroalloys Management OOO.
Sergei Zhilyakov was appointed Chief Executive Officer of Mechel Ferroalloys Management OOO. He will be tasked with operational control over the group's ferroalloys division enterprises. His predecessor at this post, Gennady Ovchinnikov, was appointed Chief Executive Officer of Donetsk Electrometallurgical Plant, which is also part of Mechel.
Sergei Zhilyakov has 37 years of experience in electrometallurgy and ferroalloys and is well acquainted with the specifics of Mechel's ferroalloys business, as in 2008-2009 he served as deputy chief executive officer in Mechel Ferroalloys Management OOO. Before then, since 2006 Mr. Zhilyakov headed the department responsible for development of the group's ferroalloys business.
Gennady Ovchinnikov is one of Mechel's most experienced top managers, who as chief of the ferroalloys division has done much for its stable development. Now his experience and knowledge will be employed at the post of the chief executive officer of Donetsk Electrometallurgical Plant a new asset which joined the group in December 2011. Mr. Ovchinnikov will focus on strategic issues of developing the enterprise, the plant's successful integration into the steel division and work by Mechel's standards. He will tackle the main tasks facing Donetsk Electrometallurgical Plant today, such as increasing the enterprise's efficiency and output of high-tech products.
Mr. Zhilyakov, 58, was head of Rusal Global Management B.V. ZAO's production department in April-October 2011. In 2008-2009 he was deputy chief executive officer and head of the production and technical policy department at Mechel Ferroalloys Management OOO. In 2006-2008, he consequently headed the capital construction department, was deputy chief of the department for reconstruction and development of Mechel's steel and ferroalloys complexes, and headed the ferroalloys production development department at Mechel Management Company OOO. In 2000-2006, he was first deputy director of Sibelectrosplav OOO. Since 1975 and until 2000, he worked at Kuznetsk Ferroalloys Plant, working his way up from a smelter to a chief executive officer and chairman of the management board. Mr. Zhilyakov graduated Sibirsky Metallurgical Institute, specializing in black metallurgy. He has been awarded with the state Order of Friendship and is the Honored Metallurgist of the Russian Federation.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
CONTACT: Mechel OAO Maria Kolmogorova Tel: + 7 495 221 88 88 email@example.com
Source: Mechel OAO 2012 GlobeNewswire, Inc.