Board Announcements

RNS Number : 2165Q

Ferrexpo PLC

28 November 2016

 

FERREXPO plc

("Ferrexpo" or the "Group")

Board Announcements

As previously announced Stephen Lucas, who joined the Board as an Independent Director on 19 May 2016, has been appointed Chairman of Ferrexpo with effect from today, in succession to Michael Abrahams who is retiring from the Board having served as Chairman since 2007.

As part of the Board's refreshment programme, and in accordance with the UK Corporate Governance Code, Wolfram Kuoni and Ihor Mitiukov also retire as Directors today.

Ferrexpo is pleased to announce the appointment of Mr Vitalii Lisovenko as an Independent Director with effect from today.

Vitalii Lisovenko is currently a non-executive advisor to the Minister of Finance of Ukraine, having previously served as an executive counsellor to the Minister of Finance. He has spent most of the past 20 years involved in government finance, developing particular expertise in debt negotiation. He has also worked in the private sector, on the executive boards of Ukreximbank (Ukraine) (2006-10) and Alfa Bank Ukraine (2010-14), and was also a Non-executive Director of Amsterdam Trade Bank (2013-2014). He has been a Non-executive Director of Black Sea Trade and Development Bank (Greece) since 2014, having formerly worked there as an Executive Vice President from 2002 to 2004. In 2005 he served as the head of the Trade and Economic Mission at the Ukrainian Embassy in London.

Mr Lisovenko graduated in 1994 from the Kyiv State Economic University, where he later obtained a PhD in Economics. He has been an Associate Professor of Finance at the University since 2010 and has produced a number of research papers and other publications.

There is no other information concerning Vitalii Lisovenko which is required to be disclosed pursuant to paragraph 9.6.13 R of the Listing Rules.

Oliver Baring, Senior Independent Director of Ferrexpo, said:

"The Board and management are very grateful to Michael Abrahams for his guidance and leadership as Ferrexpo's Chairman since our IPO in 2007, and we wish him all the best for the future. We are confident that Steve Lucas will be a great asset to the Group given his financial, emerging markets and natural resources experience.

We also wish to thank Wolfram Kuoni and Ihor Mitiukov for their valuable work and advice to the Board since the IPO and wish them well for the future. Lastly, we are delighted to welcome Vitalii Lisovenko to our Board, and we look forward to him making a significant contribution, given his long experience of working in the Ukrainian financial sector and public administration."

For further information contact:

Ferrexpo:
Ingrid McMahon	[phone]
Maitland:
James Isola	[phone]

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and transport and sales operations throughout the world. It has been mining and processing high quality iron ore pellets for the global steel industry for over 35 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. The Group is currently the 3rd largest supplier of pellets to the global steel industry and the largest producer and exporter of pellets from the Former Soviet Union. In 2015, it produced 11.7 million tonnes of pellets, a 6% increase compared to 2014 and a record for the Company. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, China as well as other European and Asian countries.  Ferrexpo is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

 

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