NLMK Group (LSE: NLMK) continues to introduce changes in its energy division's structure. This process is part of developing an efficient and transparent functional/divisional management system covering all production sites in Russia and abroad; and a comprehensive program aimed at boosting business process efficiency.

At this new stage in developing the Energy Function, Alexander Starchenko, previously Director for Energy, was appointed to the newly created position of NLMK Group Vice President for Energy.

Oleg Bagrin, NLMK Group CEO, said:

“Energy resources account for approximately 12% of NLMK Group’s consolidated costs. The Energy Function is therefore strategically important in ensuring the Group’s competitive advantages. Priority tasks for the Energy Department include ensuring an uninterrupted energy supply factoring in the future development of the sites; enhancing the energy efficiency of operations; cutting energy costs; and increasing the operating efficiency of in-house energy generation. Creating the new position and appointing Alexander Starchenko to be the new Vice President for Energy emphasizes the high priority of these tasks.”

For reference

From 2007 to November 2013, Alexander Starchenko was Director for Energy at NLMK Group. He is member of the Supervisory Board at NP “Market Council”; chairman of the Supervisory Board at NP “Energy Consumer Community”; Deputy Chairman of the RSPP (Russian Union of Industrialists and Entrepreneurs) Commission on Metals and Mining Complex. From 2004 to 2007, Mr Starchenko was Deputy Director for Energy at Rumelco. From 2002 to 2004 he worked at MDM Bank and Renaissance Capital - Financial Capital. He graduated from Bauman Moscow State Technical University with a degree in Electrical Engineering.