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Novolipetsk Steel

April 22, 2016

NLMK Group strengthens its Operational Efficiency, Strategy and Internal Audit practices

NLMK Group (LSE:NLMK), an international steel producer with operations in Russia, the EU and the USA, announces changes in its management structure designed to strengthen and streamline corporate strategic functions such as Operational Efficiency, Strategic Development, and Internal Audit.
Tatyana Averchenkova, who previously held the position of Director for Controlling, has been appointed Vice President for Operational Efficiency. Ms. Averchenkova will assume responsibility for the coordination of operational efficiency departments rolling NLMK’s Production System across its Russian and international operations.
Yuri Larin, who supervised the implementation of NLMK Production System and operational efficiency projects in his previous capacity as Vice President for Technology Development and Operational Efficiency, will assume a different role within NLMK Group.
In 2015, the total number of operational efficiency projects across the Group increased by over 500 exceeding 1800 at the year-end. In 2015 efficiency projects delivered $197 million of savings, a 2x of the initial target. One of the Strategy 2017 goals is to maximize company’s efficiency of operations through both investment projects and implementation of its NLMK Production System.
Dmitry Kolobov, who previously held the similar position in SIBUR, has been appointed Director for Strategy. One of his key goals set by the management is to coordinate the development of the next phase of the strategy that would follow Strategy 2017 phase in 2018.
Mikhail Makeev, newly appointed Director for Audit, previously held the position of Director for Consolidated Financial Statements of NLMK Group. Mr. Makeev’s will be focusing on streamlining Corporate Governance, Internal Audit, and Risk Management.
Oleg Bagrin, NLMK CEO, commented: “Within two years of launching Strategy 2017, NLMK Group has achieved its operational efficiency targets. During the next eighteen months the management will focus on the delivery of remaining goals of its Strategy 2017. Then the management will launch the new phase of the strategy. Strengthening the team responsible for strategic planning, implementation of NLMK’s Production System and control brings our company to the new level, solidifying our company’s leading position.”
Professional background:
Tatyana Averchenkova has been with NLMK since 2001. In 2011, she was appointed Head of Investment Analysis group; in 2013, she assumed the position of Director for Controlling with NLMK Group. Ms. Averchenkova graduated from Lipetsk State Technical University in 2001 majoring in Management.
Dmitry Kolobov, before joining NLMK Group, held the position of Director, Corporate Strategy with SIBUR Company since October 2011. Prior to his appointment, he served as Director, Strategy and BD, with SIBUR’s largest business unit (Feedstock & Energy). From 2004 to 2010, Mr. Kolobov worked at McKinsey & Company. His professional experience since 1991 included various positions in Center Invest Group (consulting and investment banking); New Sport, LLC (sports marketing); and Halliburton Oilfield Services (USA). Mr. Kolobov graduated from MGIMO University (Moscow, Russia) in 1994 and received an MBA degree from London Business School in 2002.
Mikhail Makeev joined NLMK in 1998. In 2007, he was appointed Head of Consolidated Financial Statements department; in 2011, he was promoted to corporate Director for Consolidated Financial Statements. Mr. Makeev graduated from Yaroslavl Military Financial Academy with the Ministry of Defence of the Russian Federation with a degree in Capital Construction and Industry Financing in 1994.




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