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CFO resigned from mining company Konstantin Zhevago Ferrexpo

Mining industry / Ukraine

The Ferrexpo Board of Directors has announced the appointment of Nikolay Kladiev as Group CFO since the publication of the interim results on August 4, 2021.

CFO resigned from mining company Konstantin Zhevago Ferrexpo

Roman Palivoda, currently acting CFO of the Swiss mining company Ferrexpo and Ukrainian businessman Konstantin Zhevoy, told the Board of Directors of his decision to step down after 13 years with the group to pursue other career opportunities. This was reported by the Ferrexpo press service on Wednesday, July 7.

“The Board of Directors would like to thank Roman for his significant contribution to Ferrexpo during this period, which helped shape the group's financial statements and financing for growth. Roman will remain in the group until September 30, 2021 to ensure a proper handover, ”Ferrexpo said.

Nikolay Kladiev, who since 2007 has been working on the Board of Directors of Ferrexpo Poltava Mining as CFO, will become the new CFO of the company that owns the Poltava and Eristovsky mining and processing plants (both - Horishny Plavni, Poltava region) in Ukraine, as well as was a member of the group's executive committee.

Prior to Ferrexpo, Nikolay Kladiev held a number of audit positions at Arthur Andersen and Ernst & Young in Ukraine and Eastern Europe.

At the end of last month, Volodymyr Zelenskyy put into effect the decision of the National Security and Defense Council of Ukraine on sanctions against the Belanovskiy mining and processing plant, which is part of the Ferrexpo group, which provides for the cancellation of a special permit for the use of subsoil No. Poltava region).

Ferrexpo is an iron ore company headquartered in Switzerland and assets in Ukraine. It has been mining, processing and marketing high quality iron ore pellets to the global steel industry for over 40 years. In 2020, the group produced 11.2 million tonnes of iron ore pellets, which is 7% more than in the previous year. The company ranks 3rd in the world for the export of pellets to the global steel industry with a market share of about 9%.

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