OREANDA-NEWS. November 28, 2008. Severstal, one of the world’s leading metals and mining companies, has received two honours at the Independent Directors Association 2008 Independent Director of the Year Awards.

Oleg Tsvetkov, Corporate Secretary of OAO Severstal, was named “Corporate Secretary 2008” at the Awards, sponsored by The Association of Independent Directors and PricewaterhouseCoopers.

In addition, Rolf Stomberg, Senior Independent Director of OAO Severstal, was shortlisted as Independent Director 2008.

 The Independent Director of the Year Awards were established in 2006 and aim to acknowledge efforts made by company Directors in Russian companies in improving and developing corporate governance in accordance to the best international practices.

There are three categories:
- Independent Director of the Year
- Chairman of the Year
- Corporate Secretary of the Year

The judges looked at 150 Russian companies and 349 Independent Directors. Only 10 of these independent directors were shortlisted.

Commenting on the award, Oleg Tsvetkov said: ”I am delighted that our hard work in the area of corporate governance has been recognised by the professional community in this way. Severstal values the interests of all stakeholders as having the utmost importance and good corporate governance is therefore at the centre of what we do.”