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Changes to Mechel’s management team

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World Coal,

Mechel OAO, 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.

Before working as Mechel OAO’s First Deputy Chief Executive Officer in 2014, Ivanushkin worked 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, Ivanushkin held the position of Mechel Steel Group OAO Chief Executive Officer. From 1999 to 2002, 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.

Edited from press release by Harleigh Hobbs

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