OREANDA-NEWS. OAO Severstal ("Severstal") announces that all the resolutions were duly passed at today's Extraordinary General Meeting including those in relation to the appointments to the Board of Directors.

According to the press service of OJSC “Severstal”, these appointments are made as part of Severstal’s new corporate governance arrangements designed to comply with the key elements of the UK’s corporate governance standards.

Following these appointments, Severstal will have a ten person Board.

Five Executive Directors: Alexey Mordashov, Mikhail Noskov, Vadim Makhov, Anatoliy Kruchinin, Vadim Shvetsov.

Five Independent Non-Executive Directors: Chris Clark, Independent Director and Non-executive Chairman of the Board; Martin Angle, Independent Director; Rolf Stomberg, Senior Independent Director; Ron Freeman, Independent Director; Dr Peter Kraljic, Independent Director.

The first meeting of the Board of Directors was held immediately after the Extraordinary General Meeting.

The Board of Directors has elected Chris Clark as the Chairman of the Board and appointed Chairmen and members of Audit and Remuneration committees.

Audit Committee includes: Chairman: Martin Angle and members: Dr Peter Kraljic, Ron Freeman.

Remuneration Committee includes: Chairman: Rolf Stomberg and members: Chris Clark, Alexey Mordashov.