Mechel Reports Management Changes
Moscow, Russia – 17 February 2021 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of Russia’s leading mining and steel companies, reports Vladimir Osokin’s appointment as Deputy Chief Executive Officer for ecology and environment protection.
This is a newly created post in Mechel’s structure. Prior to his appointment, Vladimir Osokin worked as an advisor to Mechel’s Chief Executive Officer. In his new position, he will oversee a wide range of issues concerning modernization of the Group’s production facilities, implementation of ecological programs and modern methods of managing environment protection measures, using best available practices in this area, as well as overall control of Mechel Group’s Environment Policy.
“As we are working systematically to improve the level of our ecological safety, it is quite logical that we are creating a top management post heading this line of work. Today Mechel is implementing a sweeping environment-protection program at its Chelyabinsk facilities, with investment topping 13 billion rubles in the next few years. Major ecological projects are also implemented in other regions of our company’s presence. I am confident that Vladimir’s experience and professionalism will help us tackle all these issues on schedule, decrease ecological risks and comply with high standards of ecological efficiency,” Mechel PAO’s Chief Executive Officer Oleg Korzhov commented.
Prior to his appointment, Vladimir Osokin acted as advisor to Mechel’s Chief Executive Officer. In 2009-2018, he held several top posts in The Ministry of Natural Resources and Environment of the Russian Federation. In 2006-2009, he was deputy head of Russia’s Federal Forestry Agency.
Mr. Osokin graduated Bratsk Industrial Institute with a specialty in “Electrical supply of industrial facilities, cities and agricultural facilities”. He also graduated Krasnoyarsk State University with a degree in law.
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Mechel is an international mining and steel company. 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.
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.