Mechel Reports Change in Management

MOSCOW, June 15, 2016 (GLOBE NEWSWIRE) -- Mechel PAO (MICEX:MTLR) (NYSE:MTL), one of the leading Russian mining and metals companies, reports the appointment of Sergey Rezontov as the company’s Chief Financial Officer.

“During his eight years in Mechel, Sergey worked his way from a specialist to a division director, and I gladly congratulate him with this new and important appointment. As chief financial officer, he will be in charge of corporate financing, treasury, investor relations, strategic and operational analysis, mergers and acquisitions activities. Today stable work of our financial function is more important to the company than ever, and I am sure that Sergey, who is a talented finance professional and an adept negotiator, who knows the company through and through, will be able to tackle the tasks facing him,” Mechel PAO’s Chief Executive Officer Oleg Korzhov commented.

Prior to his appointment, Sergey Rezontov, 32, headed Mechel PAO’s financial department since 2014. In 2013-2014, he worked as deputy chief executive officer and financial officer of Lysva Metallurgical Company UK OOO. In 2012, he was deputy director of Mechel OAO’s treasury operations department. In 2006-2012, he worked first as a specialist and then as head of Mechel OAO’s corporate financing department. In 2004-2006, he was manager of the metals and mining team in the corporate clients department of Commerzbank (Eurasia) ZAO.

Sergey Rezontov graduated Plekhanov Russian Academy of Economics with a degree in management.

Mechel is an international mining and steel company which employs 66,000 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.

Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
Ekaterina.videman@mechel.com