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Mechel Announces New Executive Appointments

Stocks in this article: MTL

MOSCOW, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL) , one of the leading Russian mining and metals companies, announces new executive appointments.

Mr. Vladimir Tytsky, ex-CEO of the Moscow Coke and Gas Plant (part of Mechel Group) has been appointed CEO of Mechel Steel Management Company. In his new role, Mr. Tytsky will supervise the Group's steel plants' operations, further improvement of their production and financial performance.

Ex-CEO of Mechel Steel Management Company Andrey Deineko has been appointed Group Vice-president for Technology Development. He will now oversee the capital projects run by the company's steel plants, including one of its key projects - construction of a universal rolling mill at the Chelyabinsk Metallurgical Plant.

"Mr. Andrey Deineko is a first-class manager who has contributed a lot to the development of the company's steel business. In his new role as the Group VP, Mr. Deineko will utilize his best efforts, unique knowledge and vast experience to introduce cutting-edge production technologies. Taking up his new post, Mr. Deineko is expected to take to a higher level the work on implementing the company's capital investment projects.

"Mr. Vladimir Tytsky has more than 40 years of experience in a variety of senior executive roles in major organizations and is one of Mechel's most experienced senior managers. He has been with the company since its establishment. Since Mr. Tytsky's appointment as CEO of the Moscow Coke and Gas Plant in 2006, a lot has been done to make production more efficient. One of the top priorities for Mechel's steel division is execution of the company's new strategy aimed at strengthening its positions on construction steel market and at a greater share on the high-margin products markets. Mr. Tytsky's experience and expertise are sure to contribute to the intensive development of Mechel's steel business, thus strengthening the company's market position even further," Group CEO Yevgeny Mikhel remarked.

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