Mechel Announces Changes in Management of Group’s Power DivisionMoscow, Russia — March 06, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of the new Chief Executive Officer of Mechel-Energo OOO.
Yuri Yampolsky, 57, who was appointed the new Chief Executive Officer of Mechel-Energo OOO, replaces Anatoly Chernakov, who was acting chief executive officer.
Mechel OAO’s Chief Executive Officer Yevgeny Mikhel noted: “Mechel-Energo OOO’s Chief Engineer Anatoly Chernakov had to administer Mechel’s power division in winter, which is a traditionally difficult time for all energy producers, and he handled this task well, which we are very thankful for. Starting today, Yuri Yampolsky will take up his duties — he will manage all our power generating and sales companies, coordinate the work of their branches and ensure their efficiency. Yuri Yampolsky has had many years of practical experience in the energy sector and has proved himself a high-class specialist and a very capable administrator.”
Prior to his appointment, since November 2010 to February 2012 Mr. Yampolsky worked as deputy general director for economy and finance, first deputy general director and deputy general director in Science and Research Engineering Center for Interregional Distribution Grid Companies OAO. In 2008-2010, he headed the Arkhenergo branch of MRSK North-West OAO. In 2007, Mr. Yampolsky headed Eurasia EnergoService ZAO. In 2005-2006, he was acting deputy general director in Federal Grid Company of Unified Energy System OAO’s MES Center. In 2003-2005, he was general director of Taimyrenergo OAO. In 2001-2003, Mr. Yampolsky worked as first deputy general director and deputy general director for finance in Marienergo AO. In 1997-2001, he was deputy general director for marketing and head of the finance, marketing and economic safety department in the Mid-Volga Research Institute for Energy and Electrification Volgaenergoproject Samara OAO.
Mr. Yampolsky graduated from Moscow Institute for Civil Aviation Engineers with a specialty in automated control systems, Karaganda Metallurgical Plant’s Technical College with a specialty in treatment of metals under pressure, International Market Institute in Samara with a specialty in finance and loans and the Russian Presidential Academy of National Economy and Public Administration’s course on management in the energy industry. Mr Yampolsky holds a doctorate in Economics and has several industry and institutional awards.
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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.
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.