Sergey Stepanov, has long led the coal division of Evraz, will head the world’s largest manufacturer of titanium “VSMPO-AVISMA”. Before the top Manager’s task is to ensure the survival of the company in the crisis caused a sharp decline in orders from the major customer — aerospace. The company has reduced the plan to release this year by a third and transferred to the part-time members of staff. According to interlocutors“”, mister Stepanova have the necessary experience of crisis management, but the company may still require support of shareholders.The new General Director “VSMPO-AVISMA” will be the former head of coal division of Evraz Sergey Stepanov, told Kommersant’s sources familiar with the situation. Maxim Kuzyuk, who now temporarily takes the responsibility of the CEO can continue working in the Corporation in another post, do not exclude the interlocutors “Kommersant”. About the fact that Mr. Stepanov left, Evraz, announced on 22 June, his departure was explained by the intention to pursue a career outside the company.Sergey Stepanov headed the coal division of Evraz in 2012. Prior to that, he worked as a consultant at the Boston Consulting Group, then in 2005 went to SUAL to lead the office of the President of the holding company (then it was Brian Gilbertson). In 2007, after the creation of RUSAL, Mr. Stepanov moved to “Severstal-the resource” Alexey Mordashov, and then became Executive Director of part of “Severstal” of “Vorkutaugol”. In 2010 Sergey Stepanov went to the position of Director of coal mining in the Ukrainian DTEK, but in 2011 returned to Severstal, becoming the Executive Director of its gold structure for Nordgold.Sergey Stepanov comes to “VSMPO-AVISMA” in crisis in the company, which is the largest supplier of titanium to the global aerospace industry and became a victim of reduced demand for new aircraft in the background of the pandemic. “VSMPO-AVISMA” provides up to 35% of the titanium used by Boeing, 65% of the demand Airbus and 100% of Embraer. As a result, companies had to reduce the plan for production of titanium products by 2020, from 39 thousand to 26.5 thousand tons. In the first quarter, the Corporation showed 8.1 bn RUB. in the net loss grew to 7 billion rubles. profit a year earlier. On 29 June the company announced the transfer of half of the staff in part-time employment.Against the background of these challenges the company embarked on a reshuffle in April unexpectedly resigned Mikhail Voevodin, led the “Avismoj” since 2009.Shortly before leaving he extended his contract, but before the resignation was announced a large-scale anti-crisis plan with spending cuts. Company as I. O. headed by Maxim Kuzyuk, who in 2011-2012 was the successful experience of the reorganization of the “Izhmash” (part of “Kalashnikov”, where, as in “Avisme” Rostec owns a blocking stake). But it soon became apparent the differences between him and the shareholders: June 18, Mr. Kuzyuk in communication with the team made a stop production in September, which was later publicly refuted the main owners Michael Silk and “Rostec”, and the words of the acting Director was named his personal opinion.The interlocutors “Kommersant” at the market noted that Sergei Stepanov is the experience of crisis work: he came to Evraz in the period of low coal prices and the company tried to cope with the consequences of major accident at the Raspadskaya mine in 2010. The top-Manager is a task not only to develop a crisis plan, but also to keep the company’s share on the market, as there is a risk of Chinese producers, I believe our sources. They believe that AVISMA may be required to help shareholders.Maxim Hudalov of an ACRE agree that Sergey Stepanov has extensive experience. On account of his reduction of debts of the coal division of Evraz and the development of foreign assets of Nordgold. “I think with such a wealth of experience in a crisis situation it will be useful “VSMPO-AVISMA”. His arrival may allow you to avoid staff reductions, given the ability of shareholders to support the enterprise”,— the expert believes.Eugene Zainullin
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