OREANDA-NEWS. Severstal has announced the appointment of Sergey Gnilitsky as Chief Executive Officer of AO Olcon, a fully owned subsidiary of Severstal.

Sergey Gnilitsky was previously Director of Mining Plant Management at Olcon. Alexander Popov, formerly CEO of AO Olcon since 2011, will become CEO of OAO TKZ Krasky Kotelschik, part of AO Silovye Mashiny. The appointment of the new CEO of Olcon will be effective as of 15 of February 2016.

Vadim Larin, CEO of Severstal, said: "Sergey Gnilitsky's significant expertise and operational experience at Olkon will underpin the continued development of the company. Olcon is today one of the best performing iron ore complexes in the industry, and this is thanks in large part to the hard work of Alexandre Popov and his team. I wish Alexander every success in his new role."