New composition for ChelPipe Group board
Published by Lydia Woellwarth,
PJSC ‘Chelyabinsk Pipe Plant’ (ChelPipe), a leading Russian steel pipe producer and provider of integrated solutions to companies in the fuel and energy sector, has announced the results of the first meeting of the Board of Directors in its new composition on 28 February. Andrey Komarov was re-elected as Chairman of the Board of Directors, and also elected as Chairman of the Corporate Governance Committee. Both decisions were unanimously passed by the Board.
The new composition of the Board is as follows:
- Andrey Komarov, Chairman of the Board of Directors of ChelPipe Group.
- Alexander Fedorov, Chairman of the Board of Directors of Pervouralsk Pipe Plant.
- Boris Kovalenkov, CEO of ChelPipe Group.
- Dina Mikryukova, Director for Economic and Strategy Control of ChelPipe Group.
- Vadim Makhov, Professor of Business Practice at Moscow School of Management SKOLKOVO (independent director).
- Regina von Flemming, member of the Board of Directors of MTS PJSC (independent director).
- Douglas Gardner, member of the Board of Directors and Chairman of the Audit Committee of Kaspi.kz and Managing Director of CAIGAN Capital (independent director).
The three independent directors will oversee three of the four Committees of the Board of Directors: Douglas Gardner will chair the Audit Committee, Regina von Flemming will chair the Nomination and Remuneration Committee, and Vadim Makhov will chair the Strategic Planning Committee.
In addition, Michael Ruckman, President and Managing Director of Senteo Inc. and an international authority on customer experience management and client-centric business transformations, has joined the Strategic Planning Committee.
During the meeting, the Board also reviewed ChelPipe Group’s financial results for 2019, and approved the budget for 2020 and the Company’s new organisational structure. The new structure has been developed by management in line with the vision for ChelPipe Group’s strategic development, and is designed to support the implementation of key initiatives set out in the Company’s five-year strategy.
About ChelPipe Group
ChelPipe Group is one of the 10 largest pipe manufacturers in the world. The company produces approximately 2 million tpy of pipe products, selling 64% of its production in Russia and exporting the remaining 36% to 52 countries around the world (according to 2019 results).
The Group stands out among Russian players thanks to its production range and highly diversified client portfolio. The company produced 18% of all pipes manufactured by Russian companies in 2019. Its market share for large-diameter pipes and oil country tubular goods, both high-margin sectors, was 31% and 19%, respectively.
ChelPipe Group comprises iron and steel plants such as Chelyabinsk Pipe Plant, Pervouralsk Pipe Plant, a complex of warehouses supplying the Group’s pipe products to Russian regions, a company specialising in sourcing and processing of scrap metal (META), facilities producing pipeline equipment (SOT, ETERNO, MSA (Czech Republic)), and the Rimera Group responsible for oilfield services.
Read the article online at: https://www.worldpipelines.com/business-news/10032020/new-composition-for-chelpipe-group-board/
You might also like
Record depths of liquidity across natural gas markets
Intercontinental Exchange, Inc. announces record levels of liquidity across its US natural gas markets as customers manage price risk.