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Mechel Reports Management Change

MOSCOW, Dec. 1, 2015 (GLOBE NEWSWIRE) -- Mechel OAO (MICEX:MTLR) (NYSE:MTL), one of the leading Russian mining and metals companies, reports the appointment of Andrey Ponomarev as Chief Executive Officer of Mechel-Steel Management Company OOO. He will replace Vladimir Tytsky who left the company due to retirement.

Andrey Ponomarev, 38, has been working in various Mechel Group structures for over 16 years. In 1999, after graduating Southern Urals State University, he joined Chelyabinsk Metallurgical Plant as engineer in the specialty steels sales department. Since August 2012 until now, he served as first deputy of Mechel-Steel Management Company's chief executive officer.

"Andrey Ponomarev's professionalism is beyond any doubt. He is a top executive with a profound understanding of our national steel industry's trends and challenges. He stood at the inception of our international steel sales network Mechel Service which has become a leading player on the Russian market, and took active part in outlining a strategy for Mechel's steel division based on promoting high value-added products. Andrey will be tasked with ensuring stable development of the facilities he is entrusted with, and preserving the potential formed by the prior manager," Mechel OAO's Chief Executive Officer Oleg Korzhov noted.

Vladimir Tytsky is one of the most respected managers in Russia's steel industry. Over nearly half a century of his career, he went from Chelyabinsk Metallurgical Plant's chamotte ware workshop master to deputy of the plant's director, then moved to top posts in Mechel Group, heading the steel division for the past three years. It was under his direct leadership that despite unfavorable market conditions Mechel completed several important technological projects. That includes the launch of the universal rolling mill at Chelyabinsk Metallurgical Plant. The mill produces structural shapes and rails which are marketed both domestically and internationally in a successful example of import substitution. Vladimir Tytsky has been awarded several state and industry awards, including the rank of "Russian Federation's Honored Steelmaker". Vladimir Tytsky has also been elected as deputy to the Moscow Region's parliament.

"Vladimir's working career is an example of devotion and perfect service to his profession. I would like to note his extraordinary contribution to the development of the company's steel division. Speaking on behalf of thousands of Mechel's employees and myself personally, I offer him our sincerest gratitude for his hard work and wish him all the best," Chairman of Mechel OAO's Board of Directors Igor Zyuzin said.

Prior to his appointment, Andrey Ponomarev worked as first deputy chief executive officer of Mechel-Steel Management Company OOO since 2012. In 2009-2012, he headed Mechel Service Global B.V. in the Netherlands. In 2005-2009, he served as managing director of Mechel Service OOO. In 2002-2005, he occupied various posts in Uglemet Trading OOO and Trade House Mechel OOO. In 2000-2002, he was chief of the analysis bureau in Chelyabinsk Metallurgical Plant's marketing and sales service. In 1999-2000, he served as engineer in the specialty steels sales department in Chelyabinsk Metallurgical Plant's marketing and sales.

In 1999, Andrey Ponomarev graduated Southern Urals State University with a specialty in engineering and pressure treatment of metals. In 2000, he graduated Southern Urals State University with a specialty in economics and finance.

Note for editors:

Mechel-Steel Management Company OOO is a managing company tasked with operating Mechel Group's steel division facilities. The company's steel enterprises produce long rolls from carbon and specialty steels, stainless flat rolls, structural shapes, high value-added products including hardware and stampings.

Mechel is an international mining and steel company which employs 67,000 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