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Severstal CEO Alexey Mordashov to step down

Staff writer |
Cherepovets, Russia - April 28, 2015, Cherepovets, Russia - PAO Severstal, a steel and steel-related mining company, announced that Alexey Mordashov intends to step down as CEO of Severstal management and to be elected as chairman of the board of directors.

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Mr. Mordashov is a graduate of Saint Petersburg State Academy of Economics and Engineering. He earned MBA from the University of Northumbria Business School, Newcastle, UK.

Mr. Mordashov was Senior Economist, JSC Severstal; Head of the Economics Bureau; Head of the labour organisation, mill no. 1; and Deputy Head, Planning Department. He eas Financial and Economic Director of JSC Severstal, and was later appointed as CEO of JSC Severstal.

Mr. Mordashov received Order of Service to the Motherland and Honorary doctorate from Saint Petersburg State Academy for Engineering and Economics.

Vadim Larin, currently COO of Severstal Management, is expected to become new CEO of Severstal Management. The positon of COO will no longer exist. These appointments are due to take effect on 26 May 2015.

Mr. Larin joined Severstal in 2003 as a CEO of Intaugol. He became a CEO of Kuzbassugol in 2005, and a CEO of Vorkutaugol in 2007. He was appointed a CEO of Severstal Resources mining division in 2010.

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