oleg Korzhov became the new general director of the Russian Mechel

The meeting of the Board of Directors of OJSC Mechel, who took place on the last day of 2013, dismissed General Director Evgeny Michel, who wrote a statement for dismissal of his own free will, and appointed oleg Korzhov, senior vice president for economics and business development. This is stated in the official press release of Igor Zyuzin.

As you know, as of September 20 of last year, the total debts of Mechel reached $ 9.1 billion, while the net debt was $ 9 billion. In the nine months of 2013, the net loss of Sword OJSC on US GAAP increased compared to the same period of 2012 by 4 times to $ 2.247 billion. The main creditors of OJSC Mechel became Sberbank of Russia, Russia. VTB and Gazprombank with whom the company managed to agree on the provision of deferral payments to the end of the current, 2014, year.

“We are sincerely grateful to Eugene Michel, who led the company in a difficult period of time and wish him good luck in his future life,” commented on the resignation of the general director Mechel Igor Zyuzin.

The Mechel group unites manufacturers of coal, iron ore concentrate, steel, rental, ferroalloys, high -altitude products, thermal and electric energy.
Igor Zyuzin owns 67.42 percent of the shares of the company, the rest of the company's managers - less than a percentage of shares.