OREANDA-NEWS. The Executive Board of the Renova Group of companies and the Board of Directors of Energoprom approved Ivan Kosarev as a new Chief Executive Officer of Energoprom Group. Prior to joining the Energoprom team, Ivan Kosarev was Chief Operating Officer at OJSC Mosenergo. In his capacity as the CEO of Energoprom, Mr. Kosarev will continue to pursue the corporate strategy focused on expanding the market share both domestically and internationally, on stepwise product quality improvement and overall technology upgrade of the company's operations.

The contract with the previous CEO of Energoprom Mr. Aleksey Nadtochi expired in April 2014, and the parties agreed not to renew it. After leaving the company, Mr. Nadtochiy is planning to engage in projects of his own.

Curriculum Vitae:

Ivan Kosarev

Born in 1974.

Graduate of the Moscow Institute of Physics and Technology (Engineer Physicist).

In 2003-2007, Ivan was a product development engineer with Schlumberger. In 2007, he joined McKinsey where his main focus was on projects in oil & gas, metallurgical and electric power industries until 2011. In 2012, he joined Mosenergo as Chief Operating Officer.

Renova Group of companies (www.renova.ru <http://www.renova.ru>)

A major private Russian business group which owns and manages assets in metallurgy, mining, chemical, construction, transport, energy, telecommunications, high-tech engineering, public utilities and financial sectors in Russia and abroad (CIS, Switzerland, Italy, South Africa and the United States of America). Renova's largest assets include interests in UC RUSAL, IES and Swiss-based technology concerns Schmolz+Bickenbach, OC Oerlikon and Sulzer.