Sergey Stepanov Is Appointed the CEO of Raspadskaya Coal Company
27 June 2014 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company") has announced that the Open Joint-Stock Company "Raspadskaya" has appointed Sergey Stepanov as the Chief Executive Officer of Raspadskaya Coal Company (managing company of Raspadskaya) with effect from 1 July 2014. Sergey Stepanov will continue to serve as the Head of Coal Division of EVRAZ and the CEO of Yuzhkuzbassugol Coal Company. Gennady Kozovoy, ex-CEO of Raspadskaya Coal Company, will continue serving on Raspadskaya's Board.
"Amongst Mr Stepanov's key priorities in his new role at Raspadskaya Coal Company will be the improvement of labour safety, the growth of output at the Raspadskaya underground mine, and cost optimisation under the current market conditions," said EVRAZ's CEO Alexander Frolov. "I would like to express sincere gratitude to Gennady Kozovoy for his invaluable contribution to Raspadskaya's development to-date and I am sure that his immense expertise and experience will be utilized in making strategic decisions for EVRAZ's coal business."
Sergey Stepanov was appointed EVRAZ's Vice President, Head of Coal Division, in December 2012. In June 2013, he became the Chief Executive Officer of Yuzhkuzbassugol Coal Company, a subsidiary of EVRAZ. Before joining EVRAZ, he was Executive Director of Nordgold and Vorkutaugol, and served in managerial positions in Severstal Resources and SUAL-Holding.
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EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 16.1 million tonnes in 2013. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2013 were US$14,411 million, and consolidated EBITDA amounted to US$1,821 million.
