New General Director of United Metal Company appointed

Igor Yaroslavtsev was appointed as the General Director of the United MetalCompany (UMC), according to the decision made by the company's Board ofDirectors. As the press service of the United Metal Company reported,Yaroslavtsev previously was External Investment Director of Severstal. Inhis new office, Yaroslavtsev will deal with day-to-day management of thecompany, production, financial and staff issues. Anatoly Sedykh, the formerGeneral Director of the company, will retain the position of the member ofthe Board of Directors. At the next Board of Directors' meeting a decisionwill be made what position he will hold in the United Metal Company. Commenting on the changes in the management structure of the United MetalCompany, Sedykh pointed out that "making a decision about transferringday-to-day management functions, the Board of Directors used the up-to-dateexperience of managing large companies. I will focus on working with theBoard of Directors and retain the authority to set the strategic goals anddetermine long-term perspectives of the company's development". As it wasreported earlier, Severstal and the United Metal Company are currentlycooperating in implementing a project aimed at establishing large pipeproduction using the facilities of a number of metal works. The UnitedMetal Company's share on the Russian pipe market is 36 percent. .

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