OREANDA-NEWS. March 3, 2008. OAO Severstal today announced the appointment of Sergei Kuznetsov as Chief Financial Officer with effect from mid May. Mr. Kuznetsov was previously CFO of Severstal North America, Inc.

Mikhail Noskov, Severstal's outgoing CFO, will stay on as a member of the company's Board of Directors.

Commenting on the changes, Alexey Mordashov, Severstal's CEO, said: "On behalf of Severstal, I would like to thank Mikhail Noskov for his major contribution to our company. As CFO he introduced modern financial systems, gaining recognition from the global investment community.

He was also instrumental in helping the company achieve its London Stock Exchange listing. I am delighted that he will continue to make an important contribution as a member of our Board.

Sergei Kuznetsov has been a member of our senior management team for six years. The knowledge and experience he has gained working in both Russian and international markets will be invaluable to the continued growth of our company."