Ferrexpo PLC Appointment of Acting Chief Executive Officer (2447R)
28 10월 2019 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 2447R
Ferrexpo PLC
28 October 2019
28 October 2019
FERREXPO plc
("Ferrexpo", "the Company" or the "Group")
Appointment of Acting Chief Executive Officer
Mr Kostyantin Zhevago has informed the Board of Ferrexpo of his
decision to step aside, temporarily, from his position of Chief
Executive Officer of the Group to focus on resolving certain
matters in Ukraine relating to one of the businesses he owned until
2015.
The Board has appointed Mr Chris Mawe, Chief Financial Officer,
to Acting Chief Executive Officer of the Group. Mr Mawe will take
over all executive responsibilities of Mr Kostyantin Zhevago in
addition to his existing financial responsibilities.
Mr Mawe has deep knowledge of the Group and during his 11 years
with Ferrexpo he has been instrumental in the development and
implementation of many of the strategic initiatives which have
ensured that the Group is in a financially strong position and able
to grow in a sustainable manner.
As a substantial shareholder in the Company, Mr Zhevago will
remain on the Board as a non-independent, non-executive
director.
These changes will take effect immediately and until further
notice.
Steve Lucas, Non-executive Chairman, commented:
"The Board, including Mr Zhevago, believes that this temporary
change of leadership is necessary and in the interests of all
shareholders to enable Mr Zhevago to focus on on-going matters in
Ukraine without impacting the Company's operations. Mr Zhevago
continues to have the full support of the Board.
We are very pleased that Mr Mawe has agreed to step into the
role of Acting Chief Executive Officer. His extensive knowledge of
the Group's operations will ensure business continuity as we
further position Ferrexpo as a dominant player in the global pellet
market."
This announcement contains inside information in relation to the
Company. The person responsible for making this notification is
Brian McLelland, Interim Company Secretary.
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland/AMO:
James Isola +44 207 379 5151
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for 40 years.
Ferrexpo's resource base is one of the largest iron ore deposits in
the world. In 2018, the Group produced 10.6 million tonnes of
pellets, a 2% increase compared to 2017, ranking it as the 3rd
largest exporter of pellets to the global steel industry with a
market share of approximately 8%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey,
Vietnam and America. Ferrexpo has a premium listing on the main
market of the London Stock Exchange. Since its IPO in 2007, the
Group has paid approximately US$658 million in dividends to
shareholders, invested over US$2.4 billion of capital into its
operations and paid US$761 million in taxes and royalties to the
Ukrainian government. For further information, please visit
www.ferrexpo.com
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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