Re-election of Chairman of the Board and BoD members
25 May 2021
PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, announces that its Board of Directors at the absentee meeting held on 24 May 2021 has made several decisions, including:
- To recognize the following Board members as independent directors: Sakari Tamminen, Philip Dayer, Alun Bowen, Vladimir Mau, Alexander Auzan. To recognize Alexey Mordashov as a non-executive director.To re-elect Alexey Mordashov as Chairman of the Board of Directors of PAO Severstal
- To elect Sakari Tamminen as Senior independent director
- To set the following composition of Board Committees:
Audit Committee:
- Alun Bowen - Chairman
- Sakari Tamminen
- Vladimir Mau
Remuneration and Nomination Committee:
- Sakari Tamminen - Chairman
- Philip Dayer
- Alun Bowen
Health, Safety and Environmental Committee:
- Philip Dayer - Chairman
- Alexey Mordashov
- Alexander Shevelev
- Agnes Ritter
- Alexander Auzan
Therefore, 50% of the Board of Directors are independent non-executive directors. All members (100%) of the Audit Committee and Remuneration and Nomination Committee are independent non-executive directors. All Chairmen of Board Committees are independent directors.
The Board of Directors also approved the amount of remuneration for its Auditor - JSC "KPMG" for auditing Severstal's financial statements for 2021, series of related party transactions and updated some terms of conditions of the share register administration agreement.
For further information, please contact:
Investor Relations
Vladimir Zaluzhsky, Nikita Klimantov
T: +7 (495) 926-77-66
vladimir.zaluzhsky@severstal.com; na.klimantov@severstal.com
Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
***
PАО Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets in Russia, Latvia and Poland. Severstal is listed on MOEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $6,870 million and EBITDA of $2,422 million in 2020. Severstal's crude steel production in 2020 reached 11.3 million tonnes. www.severstal.com
.