OJSC Novolipetsk NLMK Oleg Bagrin Elected President of NLMK

  OJSC Novolipetsk (NLMK) - Oleg Bagrin Elected President of NLMK

RNS Number : 5594P
OJSC Novolipetsk Steel
25 October 2012


Press release

Oleg Bagrin Elected President of NLMK

25 October 2012

NLMK, the  leading  global  steelmaking  company,  today  announced  that  its 
shareholders at  an Extraordinary  General Meeting  ("EGM") elected  Mr.  Oleg 
Bagrin as NLMK President (Chairman of the Management Board). 

Mr. Bagrin  was nominated  as  President by  NLMK's majority  shareholder,  in 
recognition, among other things,  of his many years  of experience serving  on 
the Board  of Directors.  Mr. Bagrin  has been  responsible for  overseeing  a 
number of  aspects  of  NLMK's  growth,  helping  the  Company  to  become  an 
international vertically integrated  group. These include  the acquisition  of 
the Group's main assets,  NLMK's successful IPO, and  key projects as part  of 
the Company's Technical Upgrade and Development Programme.

Mr. Bagrin has been serving as Member of the Board of Directors since 2004. He
is also Chairman of the Strategic Planning Committee and a member of the Audit
Committee. In August 2012, Mr.  Bagrin was appointed Executive Vice  President 
of NLMK.

Commenting on the new appointment, Mr. Bagrin said: "I am greatly honoured  by 
the trust and confidence the  shareholders have placed in  me. NLMK is one  of 
the leading global steelmakers. Over the last decade, the Group has made great
progress to achieve its  leading position and lay  the foundations for  future 
growth. Our priorities - the sustainable growth of our business, and safe  and 
efficient production processes  - remain unchanged  through these  challenging 
times for the steel industry." 

Additional information:

Oleg Bagrin has been a member of  NLMK Group's Board of Directors since  2004. 
He is Chairman of the Strategic Planning  Committee and a member of the  Audit 
Committee. Mr. Bagrin is also  a Board member of  a number of NLMK  subsidiary 

He is a Board  member of Freight One,  a railroad transportation company,  and 
ZAO Libra Capital, an asset management company.

Mr. Bagrin holds a graduate degree  in Operations Research and a  postgraduate 
degree in Economics from the State University of Management (Moscow), as  well 
as an MBA from the University of Cambridge (UK).

                                   * * *

For more information:

Sergey Takhiev

Investor Relations Department



                     This information is provided by RNS
           The company news service from the London Stock Exchange


MSCFEDFDIFESEDS -0- Oct/25/2012 13:36 GMT
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