The judges of the prestigious S&P Global Platts Global Metals Awards applauded the role that NLMK Group’s top management team played in the success of Strategy 2017 and recognized Oleg Bagrin, member of the Board of Directors, who presided over the company from 2012 to March 2018 and was the architect of its previous five-year strategic cycle, as “CEO of the Year”.
“This award also belongs to the entire team of NLMK, my crew, which I have been leading for the last 5 years. It’s been a great journey. Thank you very much for this award,” Oleg Bagrin said at the “CEO of the Year” awards ceremony.
Under Oleg Bagrin’s leadership from 2013 to 2017 the NLMK team developed and executed Strategy 2017, thanks to which the company regained market leadership, and achieved improved operational efficiency and financial stability following a major revamp and expansion of the group’s chain of international facilities, building a robust foundation for more agile development.
Strategy 2017 projects delivered a 2-million ton boost to the company’s steel output in 2017 vs. the 2013 level, without the need for significant investment, increasing EBITDA by 70%, thus outstripping Russian and foreign competitors. The structural effect exceeded the planned $1 billion, debt has been reduced to a minimum, and dividends reached an all-time high. NLMK Group secured its needs for all types of iron ore feedstock, having completed the construction of the largest pelletizing plants in Europe at Stoilensky in record-breaking time and launched it in 2016. (NLMK/Ukrainian metal)