Metalloinvest, a leading global iron ore and HBI producer and supplier, and a leading Russian producer of high-quality steel, has announced the election of a new board of directors and the creation of a sustainability committee.

Alexander Blumhardt and Manfred Grundke were elected to the board for the first time as independent directors. Grundke is heading up the newly established sustainability committee and is joined by Nazim Efendiev, CEO of Management Company Metalloinvest, USM deputy CEO Pavel Mitrofanov and Alexander Blumhardt.

"Alexander Blumhardt and Manfred Grundke will bring international corporate governance best practices to the board of drectors.’’

Ivan Streshinsky, chairman of the board of directors of Management Company Metalloinvest.

According to Streshinsky, sustainable development is integrated into the company’s business processes and is a key element of Metalloinvest's development strategy. “The establishment of the board’s sustainability committee reflects the strategic importance we place on this area. The committee will help manage sustainability risks, ensure compliance with ESG principles and further enhance disclosure transparency and openness around Metalloinvest's activities for all stakeholders.”

Alexander Blumhardt has been executive manager CIS of the Knauf Group since 2011. From 2005, he headed the controlling department of Knauf Group CIS. He graduated from the Faculty of Law of the Friedrich-Wilhelm University Rheinland in Bonn, Germany.

Manfred Grundke served as managing partner of the Knauf Group since 2008. Previously, he was president and CEO of Bosch Rexroth.

There are 12 members of the board of directors of Management Company Metalloinvest and they include:

  • Ivan Streshinsky, chairman of the board of directors
  • Vakhtang Kocharov, vice chairman of the board of directors, executive director
  • Nazim Efendiev, chief executive officer
  • Irina Lupicheva, non-executive director
  • Pavel Mitrofanov, non-executive director
  • Maxim Poletaev, non-executive director
  • Uluç Ergin, non-executive director
  • Galina Aglyamova, independent director
  • Valery Kazikaev, independent director
  • Dmitry Tarasov, independent director
  • Alexander Blumhardt, independent director
  • Manfred Grundke, independent director