OREANDA-NEWS. May 25, 2010. Vadim Larin, Head of OAO Vorkutaugol since 2007, has been appointed Chief Operational officer (COO) of ZAO Severstal Resources, OAO Severstal’s mining division, effective July 12, 2010. Sergey Efanov, currently the Head of the Vorkutinskaya mine, will become CEO of Vorkutaugol, effective July 12.

Vadim Larin will be responsible for the production activities of all Severstal’s mining businesses.

Alexander Grubman, the CEO of Severstal Resources, said “Under the leadership of Mr. Larin, Vorkutaugol has made a great stride forward in the field of industrial safety, managed through the global recession, and made its products more competitive whilst reducing total cash costs by one third.  Vorkutaugol has also modernized its key production and business processes. These achievements mean Mr. Larin is well qualified to be the COO of the whole mining division. We wish Vadim success in meeting and overcoming new challenges”.

Vadim Larin was born in 1970 and graduated from Moscow State Institute of Radiotechnics, Electronics and Automation, as well as INSEAD’s business school. He worked for the international consulting company McKinsey, moving on in 2003 to work in the coal-mining industry as CEO of Intaugol and CEO of Kuzbassugol. He has been the Head of Vorkutaugol since August 1, 2007. Mr. Larin is married and has three children.

Sergey Efanov, who takes over as CEO of Vorkutaugol, was born in 1974 in Aleksin, Tula Region (Russia), and moved to Vorkuta with his parents in 1980. He graduated from Moscow State Mining University with a specialization in mining machines, beginning his career in the Mine construction department No. 3 of Pechorashakhtostroy as an underground electrical fitter and later as a mechanical engineer. In 1998, he joined the staff of Vorgashorskaya mine, moving up in the ranks to become deputy production director. He was appointed the Head of Vorkutinskaya mine on July 18, 2008. Mr. Efanov is married and has two children.

“We wish Mr. Efanov good luck in this important role, which is to manage the largest business in the mining division”, Alexander Grubman said. “I’m positive that the new CEO will make a substantial contribution in the further development of Vorkutaugol and will continue to manage the company towards leadership in industrial safety and production efficiency.”

Vorkutaugol, which is part of Severstal Resources and one of Russia’s largest coal businesses, operates five underground mines and one open-pit mine. In 2009, Vorkutaugol produced 6.7 million tons of marketable products, with coking coal concentrate being a staple.