Osipov resigning as VSMPO-Avisma CEO; his first deputy to be acting head of company

YEKATERINBURG. April 3 (Interfax) - Dmitry Osipov, CEO of PJSC VSMPO-Avisma Corporation , is resigning from the company as of April 4, a source familiar with the situation told Interfax.

VSMPO-Avisma's press service has confirmed the information to Interfax, noting that Osipov was leaving the position "because of personal circumstances".

Nikolai Melnikov, currently the first deputy CEO and executive director of VSMPO-Avisma, will assume the CEO duties until a new CEO is appointed.

The press service has noted that under the leadership of Osipov, whose task has been to ensure the company's consistently high market value, VSMPO-Avisma's capitalization has more than doubled over the past two years.

"The company has successfully overcome the pandemic period, and has even boosted production amid the departure of Western buyers; and there are plans to open a new production facility for mechanical working and conversion of titanium parts within an investment project totaling 3.2 billion rubles," the press service of the titanium producer added.