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Novolipetsk Steel

January 18, 2013

NLMK announces change in its management team: Grigory Fedorishin succeeds Galina Aglyamova as Vice President of Finance

NLMK (LSE: NLMK), the leading global steelmaking company, announces that Galina Aglyamova has decided to step down as NLMK Group Vice President of Finance starting from December 28, 2012, to take on a new career challenge; she will be succeeded in this position by Grigory Fedorishin, formerly Director of Strategy and Business Development.

Ms. Aglyamova was appointed NLMK Group Vice President of Finance in 2006. Prior to that she served as NLMK’s Deputy General Director of Economics and Finance. With Ms. Aglyamova as the head of NLMK’s economics and finance, the company has reached a truly global status, doubling its asset value. An efficient financial strategy ensured NLMK’s stability and supported its dynamic development through the crisis.

Commenting on her decision to step down, Ms. Aglyamova said: “It has been a great honour to be a part of the NLMK team – they have become more than co-workers to me. I am truly proud of the fact that over my years as the head of NLMK’s finances the company has transformed into a global leader. I would like to thank all my friends and colleagues for our productive cooperation.”

NLMK Chairman of the Board of Directors, Mr. Vladimir Lisin, said: “I would like to thank Galina Aglyamova for her significant contribution to the development of the company. Over her years with the company, NLMK has gained and retained the status of one of the most appealing investment cases in the metals and mining industry. I would like to separately acknowledge Ms. Aglyamova’s work as Head of the Coordination Committee that managed NLMK Group companies’ performance during the crisis of 2008-2009.”

Grigory Fedorishin, formerly Director of Strategy and Business Development and Member of the Management Board, will take over as NLMK Group Vice President of Finance. The new appointment displays NLMK’s commitment to ensuring management succession by continuing the implementation of its strategy aimed at boosting the company efficiency.

Commenting on the change in the management team, Oleg Bagrin, NLMK Group President, said: “I am convinced that Grigory Fedorishin, possessing practical experience in financial management, strategy development and business process optimisation at NLMK, will be able to leverage it to further promote business efficiency, which is becoming the pillar of the Group strategy.”

Commenting on the new appointment, Mr. Fedorishin said: “NLMK Group has always distinguished itself by a unique combination of efficiency, long-term growth and business model sustainability, including financial stability. My key goal is to retain and develop this blend.”  

For reference:

Galina Aglyamova

Ms. Aglyamova was NLMK Group Vice President of Finance and Member of the Management Board from 2006 to 2012. She was Deputy General Director for Economics and Finance from 2005 to 2006, and, from 2000 to 2005, Director for Economics and Finance. From 1997 to 2000 she worked as Deputy Director for Economics. She joined NLMK as a planning economist in 1985.

Ms. Aglyamova graduated from the Moscow Institute of Steel and Alloys. Ph.D., Ec. Honorary economist of Russia.

Grigory Fedorishin

Director of Strategy and Business Development starting from 2011. Member of the Management Board from 2012. Mr. Fedorishin served as Investment Manager at Libra Capital (Moscow) from 2009 to 2011. From 2001 to 2009 Mr. Fedorishin worked with PricewaterhouseCoopers consulting company (Moscow) in various capacities, including auditing, financial and management consulting, finally becoming Director of the Business Restructuring Group.

Mr. Fedorishin graduated from the Academy of Finance (Moscow). He holds an MBA with distinction from INSEAD (France, Singapore), and is a CFA (Certified Financial Analyst) charterholder.

At NLMK, Mr. Fedorishinled the reengineering of investment management process and the implementation of a key performance indicator system. He is a member of NLMK Group Investment Committee and secretary of NLMK Board of Directors’ Strategy Committee.




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