Former Evraz CEO leaves board of N. American division

MOSCOW. Nov 26 (Interfax) - Former Evraz CEO Alexei Ivanov, who resigned in the summer of 2023, has stepped down from the board of directors of the Russian steel and mining group's North American division, Evraz North America reported.

Evraz's board accepted Ivanov's resignation in 2023 because the execution of CEO duties was "extremely difficult" amid sanctions that made operations impossible, a Evraz spokesman said at the time. He also said Ivanov would retain an executive role at Evraz's Russian division and his position as chairman of the board of Evraz North America plc.

The Unified State Register of Legal Entities shows that Ivanov was replaced as president of Evraz LLC (formerly Evrazholding LLC) in September by Vladislav Zaitsev, who has worked in the company's HR department since 2007 and was nominated to Evraz's board of directors in the summer of 2024. The second candidate for the Evraz Plc board in the summer was independent director Andrei Loboda, a practicing lawyer and managing partner of law firm Loboda, Filimonov & Partners.

Evraz did not respond to questions from Interfax.

The United Kingdom imposed sanctions against Evraz's largest shareholder, Roman Abramovich in March 2022, after which all nonexecutive directors left the company's board. Only CEO Alexei Ivanov remained on the board and he was then joined by CFO Nikolai Ivanov. Evraz itself was later also hit by UK sanctions.

Evraz is a major vertically integrated steel and mining company. Its largest shareholders as of the end of 2021 were Roman Abramovich with 28.64%, and company founders Alexander Abramov and Alexander Frolov with 19.32% and 9.65%, respectively.