General Director Vladimir Iorich will gradually hand over his duties to current Executive Director Alexei Ivanushkin, while continuing to work as general director and a member of the board during the transition period.
"Igor Zyuzin is considering different variants of financing, including deals on the stock market or strategic partnership. Regardless of the chosen variant, he will retain at least a 51% stake in Mechel's stock capital," the Mechel press service said.
Iorich said he was positive about the changes in company management and would do his part to ease the transition.
The Mechel group was established in March 2003 and is a leading Russian company in the mining and metallurgy industry. It comprises several metal combines and plants in Russia, Romania and Lithuania.
