NLMK Group, an international steel company, is pleased to announce the appointment of Shamil Kurmashov as NLMK Group CFO, effective 15 November 2018.
Mr. Kurmashov will be in charge of coordinating the work of financial departments across all NLMK Group companies, supporting the execution of the new strategic cycle of the Group leading up to 2022, and driving the efficiency of business processes in their economic and financial aspects, including the implementation of digital technologies.Grigory Fedorishin, NLMK Group president and CEO, said:
“One of the guiding principles for the Company strategy is to maintain a balance between efficient growth, financial stability and shareholder returns. The financial function plays one of the key roles in promoting this principle. I wish Shamil every success, and am convinced that his experience and expertise will support us in achieving the Company’s strategic goals and in further consolidating its market position.”
Shamil Kurmashov’s background
Prior to joining NLMK Group, Shamil Kurmashov was Deputy CEO for Commerce and Finance at Aeroflot, Deputy CEO for Finance & Investment at Sistema Joint-Stock Financial Corporation, where he was also in charge of the Group’s investment activities, and held executive positions at Nornickel and Wimm Bill Dann. Shamil Kurmashov has experience in the development and execution of financial strategies and process optimization in economics and finance.
For instance, Shamil developed a group financial policy for Aeroflot, implemented centralized liquidity management, profitability monitoring and management, worked on boosting capex programme efficiency, optimized the company’s debt profile, and participated in the implementation of SAP ERP financial and economic modules. Shamil Kurmashov graduated from Moscow State Institute of International Relations (MGIMO University), and holds a Ph.D. in Economics from Central Economics and Mathematics Institute (CEMI RAS).
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore windmills.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 9M 2018, the Company generated $9 billion in revenue and $2.7 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).NLMK’s ordinary shares with a 16% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital please follow the link.
The jury of the prestigious S&P Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical, announced NLMK Group as winner of the Industry Leadership Awards – Steel in 2016, and awarded it the CEO of the Year in 2018.
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