Changes in Executive Management

OAO Severstal Announces Changes in Executive Management at Severstal Resources

OAO Severstal, one of the world's leading metals and mining companies, today announced that Alexander Grubman has been named as the acting CEO of its Severstal Resources division effective May 1st, 2009.

Roman Deniskin, formerly CEO of Severstal Resources, has decided to leave the company.

Alexey Mordashov, CEO of OAO Severstal, said: "We are grateful for Roman's commitment and hard work during his time at Severstal. Under his leadership, and with the dedication of his team, Severstal Resources has become one of Russia's leading iron ore and coal producers, demonstrated by its consistently good results. Alexander has been with OAO Severstal since 2006 in the role of chief operating officer at Severstal Resources. Alexander's substantial management experience will enable the division to continue to grow and strengthen its competitive position".

Notes to Editors

Alexander Grubman (46) graduated from the Moscow Technological Institute of Food Industry with a diploma in engineering and mechanics.

Alexander joined Severstal Resources in 2006 as an operating director, with responsibility for the day to day running of the division.

Prior to joining Severstal, Alexander held leading management positions at Coca Cola Company, SunInterbrew and Unimilk.


For further information:

Dmitry Druzhinin, Investor Relations
Olga Antonova, Public Relations
+7 495 926 7766