Press Release: The Supervisory Board of SIJ appointed two new members to the Management Board of SIJ d.d.

Ljubljana, Wednesday, 18 January 2017 – The Supervisory Board of SIJ d.d. was briefed on the SIJ Group's current operations and the preliminary operating results for 2016. After taking note of the letter of resignation submitted by Anton Chernykh, President of the Management Board, the Supervisory Board appointed two new members to the Management Board of SIJ d.d.

 

At today's meeting, the Supervisory Board of SIJ d.d. was briefed on the SIJ Group's initial, unofficial, operating results for 2016, which the Board felt were good and in keeping with the Group's business plans. The revised consolidated operating results will be published in the Annual Report in accordance with the rules of the Ljubljana Stock Exchange.

The Supervisory Board took note of the letter of resignation submitted by Anton Chernykh, President of the Management Board, for personal reasons. Mr. Chernykh's term of office expires today. The Supervisory Board thanked Mr. Chernykh for his successful management of the Group and wished him luck in his future career, which will continue outside of the SIJ Group.

In order to ensure the seamless continuation of the Group's operations following the resignation of the President of the Management Board, the Supervisory Board voted to expand the Management Board to three members. Andrey Zubitskiy, to date the President of the Supervisory Board, was appointed interim President of the Management Board (for a term of no more than six months), while Denis Mancevič, to date a Member of the Supervisory Board and Director of Corporate Communications at SIJ d.d., was appointed Member of the Management Board and CEO for a term of five years.

Dr. Mancevič submitted his resignation as Member of the Supervisory Board before the voting took place; Dr. Zubitskiy's function as President of the Supervisory Board has been temporarily suspended. Igor Malevanov's term as a Member of the Management Board and as Finance Director will continue uninterrupted.

More information on the new Members of the Management Board

Andrey Zubitskiy, President of the Management Board

Andrey Zubitskiy started his career in 2003 at the Koks Group, where he was appointed First Vice President and Member of the Management Board of the OOO Industrial Metallurgical Holding Management Company, a position he continues to hold today. He is also the President of the Management Board of the Dutch company Dilon Coöperatief U.A. He became the President of the Supervisory Board of SIJ d.d. in 2007, and in January 2017 he was appointed interim President of the Management Board.

He graduated from Kuzbass State Technical University and later obtained a Ph.D. in Economics.

Mr. Zubitskiy is the Honorary Consul of the Russian Federation in Slovenia. The seat of the Consulate is in Jesenice.

 

Dr. Denis Mancevič, Member of the Management Board and CEO

Dr. Denis Mancevič started his career in 2006 as a consultant, followed by a position as Sales Director for foreign markets specializing in Eastern European markets. In 2010 he took on the position of Economic Consultant at the Slovenian Embassy in the Russian Federation. In 2014 he joined the SIJ Group as Director of Corporate Communications. In the same year, he was appointed Member of the Supervisory Board of SIJ d.d., and in 2016, Member of the Supervisory Board of Perutnina Ptuj d.d. In January 2017, Dr. Mancevič was appointed Member of the Management Board and CEO of SIJ d.d.

Dr. Mancevič obtained a degree in Political Science (international relations) from the Faculty of Social Sciences in Ljubljana, and a degree in Russian Language and Literature and in Sociology of Culture from the Faculty of Arts in Ljubljana. Continuing his education at the University of Maribor, he completed an international business academy Master's study program. He received his Ph.D. at the Faculty of Social Sciences in 2013. He is currently continuing his education at IEDC – Bled School of Management, in the Executive MBA program.

Dr. Mancevič is a Member of the Executive Board of SFIF – Slovenian Foreign Investors Forum, a Member of the Metallurgy Strategic Council and a Member of the Business and Marketing Council of the Slovenian Olympic Committee. He regularly publishes in a number of Slovenian media and occasionally gives lectures.

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The SIJ Group is the largest Slovenian vertically integrated metallurgist group, ranked among the top market positions in the European and world niche steel markets. In addition to metallurgy (core business), the SIJ Group is also involved in the food industry (investment in Perutnina Ptuj) and employs a total of some 7,000 people in Slovenia and abroad. With products available on over 80 markets worldwide, the SIJ Group is one of Slovenia's largest employers and exporters.

In the first nine months of 2016, the SIJ Group has generated EUR 637.9 million in sales revenue (an increase of 20.6% compared to the same period last year), EBITDA in the amount of EUR 82.5 million (an increase of 48% compared to the same period last year), and a net profit of EUR 28.5 million.