Damir Akhmetov becomes member of Metinvest supervisory board

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April 13, 2012, 6:44 p.m. | Ukraine — by Interfax-Ukraine
Damir Akhmetov, the son of businessman Rinat Akhmetov, has entered the supervisory board of Metinvest, the largest Ukrainian mining and metal group, and will be responsible for strategy issues, corporative development, management and production efficiency, the press release of the company read. According to the release, since the company switched to a continental model of corporate management, which foresees a distinct division of the functions of management and the supervisory board, the shareholders removed Director General Ihor Syry from the presidium of Metinvest.

Now the supervisory board of the group consists of nine directors, two of which are independent, the press release reported.

Metinvest is an international vertically integrated mining and metallurgical group of companies. It includes mining and metallurgical assets in Ukraine, Europe and the United States, and a sales chain covering the major international markets.

Key shareholders of Metinvest B.V. (the Metinvest Group's parent company) are SCM Group with 71.25%, and Smart Holding with 23.75%, which jointly control the company.

Metinvest Holding LLC is a managing company of the Metinvest Group.

The only shareholder in SCM is businessman Rinat Akhmetov.
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