MECHEL REPORTS CHANGES IN MANAGEMENT
Moscow, Russia — March 17, 2016 – Mechel OAO (NYSE: MTL, MOEX: MTLR), a leading
Russian mining and metals company, reports that Alexey Ivanushkin is leaving his
post of Mechel OAO’s First Deputy Chief Executive Officer.
The post of the company’s First Deputy Chief Executive Officer will be
discontinued and its functions redistributed among other management board
members.
“Alexey Ivanushkin has been working for Mechel since its founding day. In
different times, he was in charge of the most critical issues — preparing for
IPO, running steel and ferroalloy assets, managing mergers and acquisitions. I
am sincerely grateful to him for his immense contribution to Mechel’s
development and I respect his decision to leave the company after completing the
hardest part of negotiations with lender banks on our debt restructuring to
pursue his own projects. Alexey Ivanushkin will continue working in the
company’s Board of Directors for several months more to ensure smooth transition
of managerial powers and credentials,” Mechel OAO’s Chief Executive Officer Oleg
Korzhov noted.
Prior to his appointment as Mechel OAO’s First Deputy Chief Executive Officer in
2014, Alexey G. Ivanushkin has been working as the Chief Executive Officer of
Oriel Resources Ltd (part of Mechel Group) from 2009 to 2014. He served as
Mechel’s Chief Operating Officer from 2004 to 2009. From 2003 to 2004 Mr.
Ivanushkin held the position of Mechel Steel Group OAO Chief Executive Officer.
From 1999 to 2002 Mr. Ivanushkin served as the Chief Executive Officer of
Chelyabinsk Metallurgical Plant. From 1993 to 1999 he was employed as the
Director of the Department of Ferrous Metals and Ferroalloys in the Moscow
office of Glencore International AG.
Mr. Ivanushkin has a degree in economics and international relations from the
Moscow State University of International Relations (MGIMO).
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Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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Mechel is an international mining and steel company which employs over 67,000
people. Its products are marketed in Europe, Asia, North and South America,
Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled
products, ferroalloys, heat and electric power. All of its enterprises work in a
single production chain, from raw materials to high value-added products.
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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.