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Mechel Announces Management Changes

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MOSCOW, April 1, 2014 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, announces a new executive appointment.

Valery Sheverdin, 50, is appointed Mechel OAO's Vice-President for Corporate Security.

"In the seven years that Valery has been working in our company, he has proved himself an excellent professional and experienced leader, capable of tackling the most complicated tasks. I am sincerely happy to welcome him to our top management and wish him further successes in his work," Mechel OAO's Chief Executive Officer Oleg Korzhov noted.

Prior to his appointment, since June 2009 until March 2014 Mr. Sheverdin headed Mechel OAO's corporate security division. In April 2011 – March 2014, he was chief executive officer of Mechel-Garant OAO. Prior to that, since July 2007 he headed Mechel-Tsentr, a private security company. In April 2003 – June 2007 Mr. Sheverdin was deputy division chief at Lukom-A Agency ZAO. In February 2001 – March 2003 he was chairman of Russian Fund for Social Progress. In 1981-1995 Mr. Sheverdin served in Russia's armed forces.

Mr. Sheverdin graduated from Higher Military Command School for Artillery in Kolomna with a specialty in command, tactical and artillery armament, as well as Russian Federal Security Service's Moscow Military Institute for Border Troops with a degree in law.

Mechel is an international mining and steel company which employs over 80,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

CONTACT: Mechel OAO Ekaterina Videman Tel: + 7 495 221 88 88 ekaterina.videman@mechel.com

Source:Mechel OAO