NLMK Group, a global steel company, today announces that Mr. Sergey Karataev has stepped down as Russian steelmaker NLMK Group’s acting chief financial officer (CFO) in order to continue his professional growth beyond the financial function as first deputy general director of Freight One (PGK), an NLMK Group affiliate.

The largest integrated steelmaker in Russia is currently considering candidates for the CFO role.

Grigory Fedorishin, NLMK group president and CEO, commented: “Sergey Karataev made a significant contribution to the development of NLMK’s financial function. He oversaw improvements to the debt structure, and the successful execution of projects aimed at developing and streamlining internal business processes. Sergey also set in motion the implementation of hi-tech finance solutions, such as robotic transactional process automation. I would like to thank Sergey for his work and wish him every success in his new role.”

NLMK operates production facilities in Russia, Europe and the United States, and its steel production capacity exceeds 17Mt/yr.