Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest elects two independent directors and creates Sustainability Committee
Moscow, Russia - 8 October 2021 - Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the top Russian producers of high-quality steel, announces the election of a new Board of Directors at Management Company Metalloinvest and the creation of the Board's Sustainability Committee.
Alexander Blumhardt and Manfred Grundke were elected to the Board for the first time as independent directors. Manfred Grundke became the head of the newly established Sustainability Committee, where he is joined by Nazim Efendiev, CEO of Management Company Metalloinvest, USM Deputy CEO Pavel Mitrofanov and Alexander Blumhardt.
"Alexander Blumhardt and Manfred Grundke will bring international corporate governance best practices to the Board of Directors,'' said Ivan Streshinsky, Chairman of the Board of Directors of Management Company Metalloinvest, - "Sustainable development is integrated into all our business processes and is one of the priorities of Metalloinvest's development strategy. The establishment of the Board's Sustainability Committee reflects the strategic importance we place on this area. The Committee will help manage sustainability risks, ensure compliance with ESG principles, and further enhance disclosure transparency and openness around Metalloinvest's activities for all stakeholders."
Alexander Blumhardt is Executive Manager CIS of Knauf Group since 2011. From 2005, he headed the Controlling Department of Knauf Group CIS. He graduated from the Faculty of Law of the Friedrich-Wilhelm University Rheinland in Bonn, Germany.
Manfred Grundke has served as Managing Partner of Knauf Group since 2008. Previously, he was President and CEO of Bosch Rexroth.
The Board of Directors of the Management Company Metalloinvest has 12 members:
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Metalloinvest is a leading metals and mining company with the second-largest proven iron ore reserves on a JORC-equivalent basis
In H1 2021, revenue amounted to USD 5.1 bn; EBITDA - USD 2.9 bn. The company has 10+ years track record on public debt capital markets with high credit ratings: S&P (BBB-/stable), Fitch (BBB-/stable), Moody's (Baa3/stable), АCRА (AA+(RU)/positive).
Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC.
Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com
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