Evraz Group continues steamlining its management structure
Moscow, July 27, 2005 – Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, today announces the implementation of a new internal management structure for OOO EvrazHolding:
- The management of OOO EvrazHolding will be divided into two principle divisions, Corporate and Operations, which will both report to Alexander Abramov, the Chairman and Chief Executive Officer of the Group.
- The Corporate division will be led by Alexander Frolov, Managing Director Corporate. It will include the functions of strategy and business development, finance, corporate affairs and communications, business process, human resource, legal and IT.
- The Operations division will be led by Valery Khoroshkovsky, Managing Director Operations. It will be responsible for the management of Evraz’s steelmaking, mining & processing, trading, shipping/ports and technical operations.
The new structure has been designed to improve the efficiency of the management team and streamline decision making.
Commenting Alexander Abramov, Chairman and Chief Executive Officer said:
“The new structure will improve the management process and allow senior management to increase focus on areas of importance. I would like to congratulate all new appointees, particularly Alexander Frolov and Valery Khoroshovsky, who have been involved in building the company to its current stage, and will be heavily involved in shaping its future.”
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