- Mechel (MTL) appoints senior VP Oleg Korzhov as its new CEO starting Jan. 1, replacing Evgeny Mikhel, who served as CEO since 2010.
- Korzhov has held senior management posts at the Russian coal miner and steelmaker since 2005 and is a 20-year veteran of the metals industry.
- Mechel, controlled by billionaire Igor Zyuzin, invested heavily in expansion before the 2008 financial crisis hit demand and was forced to borrow to support itself; it recently reported net debt of $9.4B, and is selling off assets.
Mechel promotes Korzhov to CEO
Dec 31 2013, 08:41 ET