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#Sergey Stepanov is appointed as Director General of VSMPO-AVISMA Corporation

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July 02 2020

Press Release

Sergey Stepanov is appointed as Director General of VSMPO-AVISMA Corporation

June 30, Moscow – The Board of Directors of PSC VSMPO-AVISMA Corporation terminated the appointment of Maxim Kuzyuk Acting CEO effective July 1.

Sergey Stepanov who previously held a post of Vice President of EVRAZ – steel and mining company, has been appointed CEO of the titanium producer, a relevant order was signed on July 2.

The Board of Directors of VSMPO-AVISMA Corporation decided that Sergey Stepanov’s wealth of experience and expertise of a professional manager will help the company in meeting its main challenges of finding and using new opportunities for growth, maintaining a high level of the company’s competitiveness, and ensuring a consistently high value of the company for the shareholders.

“It’s a great honor for me to join VSMPO-AVISMA team, great company helping our customers around the world. We will continue to keep focus on quality, innovations and customer satisfaction.”

Sergey Stepanov

Sergey Stepanov was born in 1977 in Moscow, graduated with honors from the Faculty of Economics of Lomonosov Moscow State University majoring in Banking and Finance. Business community knows Sergey Stepanov as a young but experienced and efficient manager who has held for more than ten years leadership posts in various companies in the coal and gold mining industries both in Russia and abroad. 

2003 – 2005, he worked as a consultant in The Boston Consulting Group. 

2006 – 2012, he was the Executive Director of Vorkutaugol, held senior management positions in Severstal and Sual Holding. 

He served as Executive Director of Nordgold, where he was responsible for operation of gold mining companies in Russia, Kazakhstan, Guinea and Burkina Faso. Prior to becoming a separate entity Nordgold was part of the Severstal Group.

2013 – June 2020, he concurrently held the position of EVRAZ Vice President controlling Ugol division and the position of the CEO of Open Joint-Stock Company Raspadskaya.

Public Stock Company VSMPO-AVISMA Corporation is a Russian vertically integrated metallurgical company, a world’s leading manufacturer of high-tech titanium products. VSMPO-AVISMA has a 25% share of the global titanium market and is a major supplier to many aircraft manufacturers worldwide. The company has 300 customers in 50 countries, 1 500 consumers in Russia, its own extensive distribution network in Europe, North America and Asia, and production facilities in the US. It is the world’s only titanium producer with a full production cycle from raw materials processing to the release of the finished products. VSMPO-AVISMA Corporation also produces large extrusions of aluminum alloys, semi-finished products of alloy steels and high-temperature nickel-based alloys. The Corporation consistently invests in the expansion and development of production facilities focusing on production of high value-added components. The Corporation has its own Research and Development Center engaged in the development of new alloys and manufacturing processes among which is the latest development – VST2 alloy, which exhibits a unique combination of the highest strength and relatively low weight and improved ballistic properties superior to those of steel. Distribution of the assets of VSMPO-AVISMA Corporation: private equity capital – 65%, the golden share of 25%+1 is owned by the State Corporation Rostec, other shares of the Corporation are in public float.