MMK CFO Sulimov steps down as contract expires, moving to VEB
MOSCOW. Aug 16 (Interfax) - Sergei Sulimov has stepped down as CFO of Magnitogorsk Iron & Steel Works (MMK) due to the expiration of contractual agreements, MMK said in a statement.
Sulimov will continue to serve at the company as non-executive member of the board of directors.
The company said that managing director for economy Andrei Yeremin will be in charge of the functional unit that Sulimov had been in charge of earlier.
Sulimov will continue his career at Vnesheconombank (VEB) , several market sources told Interfax, without saying what post he might take.
The supervisory board is responsible for appointing deputy chief executives at VEB. The board's next meeting is scheduled for September.
Sulimov became deputy CEO for finance and economy at MMK in November 2013. Before his appointment to MMK, Sulimov was managing director of Svyaznoy Bank. Before moving to the banking sector he held various managerial posts at MMK: first as advisor to the president of LLC MMK Management Company and then OJSC MMK deputy CEO in charge of managing group companies, as well as acting CEO of MMK Metalurji (Turkey).