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EVRAZ announces its CEO succession plan

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EVRAZ announces its CEO succession plan

EVRAZ (LSE: EVR) announces its CEO succession plan. After serving as CEO of EVRAZ for 14 years, Alexander Frolov is stepping down from the role on 31st August 2021. The Board is enormously grateful to him for his exceptional service and for his contribution to the Company’s success. Mr Frolov will continue as a non-executive director so that his extensive knowledge and experience remain available to the business.

The Board approved today the appointment of Aleksey Ivanov as CEO with effect from 1st September. Mr Ivanov is currently the Senior Vice President responsible for Commerce and Business Development. In making the appointment the Board was advised by independent recruitment consultants.

Commenting on the news, Alexander Frolov said: “I would like to thank the Board of Directors and Alexander Abramov, the Chairman, personally for the invaluable experience that has made EVRAZ one of the market leaders. I intend to continue fully supporting the company as a shareholder and member of the Board of Directors, and I am confident that EVRAZ has a bright future ahead.”

Aleksey Ivanov said: “I am grateful for the faith that the Board of Directors is showing in me. The strategic vision for EVRAZ’ development, principles and dedication are shared by all members of the team. I intend to do everything possible to ensure that EVRAZ strengthens its leading positions while preserving its unique corporate DNA.”

Aleksey Ivanov (born 1975) joined EVRAZ in 2002. Prior to his appointment as Senior Vice President, Business Development and Commerce in November 2015, he held the positions of Vice President, head of the Steel Division (2011–2015) and head of the Siberia Division (2009–2011). Earlier, he served as Senior Deputy CFO responsible for Treasury and Controlling functions (2005-2009). Mr. Ivanov qualified as a Chartered Management Accountant in 2004. He graduated from INSEAD’s executive program in 2002 and holds a degree in finance from the Financial Academy of the Government of the Russian Federation.