ALROSA changes CEO – Kommersant
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ALROSA CEO Sergey Ivanov is leaving his post, and instead of him the company will be headed by Pavel Marinychev, the current head of ALROSA’s subsidiary Almazy Anabara. Mr. Ivanov’s new job is unknown, but the company says that he will continue to work on its Supervisory Board.
The Supervisory Board of ALROSA will soon consider the candidacy of Pavel Marinychev for the position of General Director-Chairman of the Company. The current head, Sergei Ivanov, is leaving his post, Alrosa said in a statement.
ALROSA is the world leader in terms of production and explored diamond reserves. The group occupies 27% of the world and about 90% of the Russian diamond mining market. The main mining assets are located in Yakutia and the Arkhangelsk region. 34% of the shares are in free float, 66% fall to the share of the Russian Federation, Yakutia and its municipalities. After the outbreak of the conflict in Ukraine, ALROSA does not disclose sales data and financial performance.
Since 2016, Pavel Marinychev has headed Almazy Anabar, which accounts for up to 15% of the diamond production of the entire group. Previously, he held the position of First Deputy Prime Minister of Yakutia, where he oversaw issues of geology, subsoil use, industry, housing and communal services, energy and construction for more than six years.
The choice of Pavel Marinychev is explained by several factors. “His appointment will allow the company to continue to develop in accordance with the current strategy of the group, not to stop implementing the adopted plans and avoid the risks of a transitional stage with a change in leadership,” Sergey Ivanov notes. The company said in a statement that Almazy Anabara exceeded its production plan for 2022. At the end of 2022, the production volume of the entire ALROSA increased by 10%, to 35.6 million carats.
Sergei Ivanov, after his resignation, will continue to work in the Supervisory Board of ALROSA and will advise shareholders and management on topical issues of the company’s development strategy.
He has led the company since 2017. During this time, as stated in the statement of ALROSA, the volume of dividends, tax and other payments to the state amounted to 653.4 billion rubles, the volume of the investment program – 161.2 billion rubles. The company’s net debt has been reduced from 112 billion rubles. at the beginning of 2017 to values close to zero today.
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