Mechel Announces Board of Directors Decision

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| Source: Mechel OAO

MOSCOW, Aug. 19, 2014 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, announces the election of new members to the Mechel OAO Management Board, the Company's elected collegial executive body.

The election of new members to the Mechel OAO Management Board was approved by the Mechel OAO Board of Directors on August 19, 2014. The following individuals were elected to be members of the Management Board:

  • Oleg Korzhov, Mechel OAO's Chief Executive Officer (Chairman of the Management Board)
  • Alexey Ivanushkin, Mechel OAO's First Deputy Chief Executive Officer
  • Andrey Slivchenko, Mechel OAO's Chief Financial Officer
  • Elena Selivanova, Mechel OAO's Vice-President for Human Resources and Social Policy
  • Valery Sheverdin, Mechel OAO's Vice-President for Corporate Security
  • Irina Ipeeva, Director of Mechel OAO's Legal Department
  • Vladimir Tytsky, Mechel-Steel Management Company OOO's Chief Executive Officer
  • Pavel Shtark, Mechel Mining Management Company OOO's Chief Executive Officer
  • Alexey Lebedev, Mecheltrans Management Company OOO's Chief Executive Officer

Mechel is an international mining and steel company which employs over 70,000 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 OAO
Ekaterina Videman
Tel: + 7 495 221 88 88