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Mechel Announces Changes In Management Of Group's Mining Division

Stocks in this article: MTL

MOSCOW, July 8, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL) , one of the leading Russian mining and metals companies, announces the appointment of the new Chief Executive Officer of Mechel Mining Management Company OOO.

Pavel Shtark, 43, who was appointed the new Chief Executive Officer of Mechel Mining Management Company OOO, replaces Boris Nikishichev, who is leaving the company due to retirement.

Pavel Shtark has been working in Mechel OAO's structures for over 5 years. In 2008 he became director of Mechel Coke OOO, and since October 2012 was deputy chief executive officer of Mechel Mining Management Company OOO for coke and chemical production.

"Pavel Shtark is an experienced professional with over 20 years of practice in various segments of this industry, with deep knowledge and understanding of its problems and specifics. During his time with our company, Pavel Shtark proved himself as a fine leader and professional. We are sure that he will manage his new tasks well and ensure the mining division's confident development," Mechel OAO's Chief Executive Officer Evgeny Mikhel noted.

Boris Nikishichev is deservedly considered a legend of Russia's mining industry. Throughout his 45-year-long career, he worked as a wireman, mining overseer, mechanic, supervisor, chief engineer, headed mining divisions at major companies, was deputy chief of Rosugol in the industry's hardest times. He was granted industry and government awards for his distinguished successes. He used his knowledge and great experience also for scientific work, which won him a doctorate in technical sciences.

"In the eight years of his work at Mechel, Boris Nikishichev made a great contribution to the formation and development of the Group's mining division. I am sincerely proud of having worked with such a distinguished professional and an exceptional person. We give him our highest gratitude for his work and wish him all the best," Chairman of Mechel OAO's Board of Directors Igor Zyuzin said.

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