Sergey Karataev to step down as NLMK Group Acting CFO
NLMK Group, a global steel company, today announces that Mr. Sergey Karataev has decided to step down as NLMK Group’s Acting CFO. Sergey has decided to continue his professional growth beyond the financial function as First Deputy General Director of Freight One (PGK), NLMK Group’s affiliate.
NLMK Group is currently considering candidates for the CFO role. Details on the appointment will be announced later.
Grigory Fedorishin, NLMK Group president and CEO, said:
“Sergey Karataev made a significant contribution to the development of NLMK’s financial function. He oversaw improvements to the debt structure, and the successful execution of projects aimed at developing and streamlining internal business processes. Sergey also set in motion the implementation of hi-tech Finance solutions, such as robotic transactional process automation. I would like to thank Sergey for his work and wish him every success in his new role.”
About NLMK Group
NLMK Group is the largest integrated steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore windmills.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In Q1 2018, the Company generated $2.79 billion in revenue and $0.8 billion in EBITDA. As of 31 March 2018, Net debt/EBITDA stood at 0.31. The Company has investment grade credit ratings from S&P, Moody’s and Fitch.
NLMK’s ordinary shares with a 16% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.
NLMK Group received the Steel Industry Leadership Award at the prestigious 2016 Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical.
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