The head of NLMK Fedorishin will leave his post in January 2024 – Kommersant
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President of the Novolipetsk Iron and Steel Works (NLMK, MOEX: NLMK) Grigory Fedorishin will leave his post. On January 6, 2024, the company’s shareholders will consider his resignation and elect a new president, Reuters reports citing a message from NLMK.
“The decision to elect a new CEO was planned, as part of the rotation associated with the completion of the next strategic cycle. The goals of the company’s approved strategy for the period 2018–2023, the implementation of which was the main task of Grigory Fedorishin, have been achieved,” the company statement says.
It is reported that candidates for the post of NLMK president will become known in December. Mr. Fedorishin, who has been leading the company since 2018, will remain on the board of directors.
According to the agency, NLMK’s strategic cycle assumed a positive effect on EBITDA of $1.25 billion, production growth to 14.2 million tons and sales growth to 18 million tons by 2023. The company did not disclose the results of the strategy.
Grigory Fedorishin was born in 1979. He was educated at the Financial Academy under the Government of the Russian Federation. He also studied at INSEAD business school, where he received an MBA. He worked as director of the business restructuring practice at PricewaterhouseCoopers, and manager of investment projects at Libra Capital Investment Company.
In 2011, Mr. Fedorishin became director of strategic development at NLMK. In 2013, he joined the company’s board. From 2013 to 2017, he held the position of Vice President for Finance at NLMK. During 2016, he headed the Long Products Russia division of NLMK. From 2017 to 2018, he worked as senior vice president and deputy chairman of the company’s board of directors.
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