CHELPIPE GROUP EQS-News: Andrey Komarov re-elected as Chairman of ChelPipe Group

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02/03/2020 13:00

EquityStory.RS, LLC-News: ChelPipe Group / Key word(s): Personnel
Andrey Komarov re-elected as Chairman of ChelPipe Group

02.03.2020 / 15:00 MSK
The issuer is solely responsible for the content of this announcement.

2 March 2020                                                                              PRESS RELEASE                                                                               

Andrey Komarov re-elected as Chairman of ChelPipe Group


PJSC "Chelyabinsk Pipe Plant"  ("ChelPipe" or "the Company"), a leading Russian steel pipe producer and provider of integrated solutions to companies in the fuel and energy sector, today announces the results of the first meeting of the Board of Directors in its new composition on 28 February. Andrey Komarov was re-elected as Chairman of the Board of Directors, and also elected as Chairman of the Corporate Governance Committee. Both decisions were unanimously passed by the Board.

The new composition of the Board is as follows:

  • Andrey Komarov, Chairman of the Board of Directors of ChelPipe Group;
  • Alexander Fedorov, Chairman of the Board of Directors of Pervouralsk Pipe Plant;
  • Boris Kovalenkov, CEO of ChelPipe Group;
  • Dina Mikryukova, Director for Economic and Strategy Control of ChelPipe Group;
  • Vadim Makhov, Professor of Business Practice at Moscow School of Management SKOLKOVO (independent director);
  • Regina von Flemming, member of the Board of Directors of MTS PJSC (independent director);
  • Douglas Gardner, member of the Board of Directors and Chairman of the Audit Committee of Kaspi.kz and Managing Director of CAIGAN Capital (independent director).

The three independent directors will oversee three of the four Committees of the Board of Directors: Douglas Gardner will chair the Audit Committee, Regina von Flemming will chair the Nomination and Remuneration Committee, and Vadim Makhov will chair the Strategic Planning Committee.

In addition, Michael Ruckman, President and Managing Director of Senteo Inc. and an international authority on customer experience management and client-centric business transformations, has joined the Strategic Planning Committee.

During the meeting, the Board also reviewed ChelPipe Group's financial results for 2019, and approved the budget for 2020 and the Company's new organisational structure. The new structure has been developed by management in line with the vision for ChelPipe Group's strategic development, and is designed to support the implementation of key initiatives set out in the Company's five-year strategy.

Andrey Komarov, Chairman of the Board of Directors of ChelPipe Group, commented:

"ChelPipe Group is adopting best practices to improve its corporate governance: not only do independent members of the Board head three of the four Board Committees, but two Committees - the Audit Committee and the Nomination and Remuneration Committee - are entirely composed of independent directors. The new composition of the Board will help to support the strategic development priorities of ChelPipe Group, as well as to ensure effective management that will further promote the sustainable growth of the company and strengthen its investment case. I am confident that all members of the Board will continue to prioritise a balance of interests among our stakeholders, including customers, investors, shareholders, employees and society as a whole."

Andrey Komarov is a shareholder of ChelPipe Group, Co-Chairman of the Pipe Industry Development Fund, and Honorary Metallurgist of the Russian Federation. He is the main author of ChelPipe Group's METAllurgy corporate philosophy and the initiator of the Future of METAllurgy educational program, which has been recognised as a top personnel training program by the Russian Ministry of Education and Science, the Agency for Strategic Initiatives and the National Agency for Qualification Development. He is involved in numerous social and charitable activities in the regions where the Company operates.


Media contacts


ChelPipe Group

Head of ChelPipe Group's press service

Tatyana Cherepanova

+7 495 775-35-55 ext. 44 89

+7 982 610 85 07



Denis Denisov

+7 985 410 35 44




About ChelPipe Group

ChelPipe Group is one of the 10 largest pipe manufacturers in the world. The company produces about 2 million tonnes of pipe products per year, selling 64% of its production in Russia and exporting the remaining 36% to 52 countries around the world (according to 2019 results).

The Group stands out among Russian players thanks to its production range and highly diversified client portfolio. The company produced 18% of all pipes manufactured by Russian companies in 2019. Its market share for large-diameter pipes and oil country tubular goods, both high-margin sectors, was 31% and 19%, respectively.

ChelPipe Group comprises iron and steel plants such as Chelyabinsk Pipe Plant, Pervouralsk Pipe Plant, a complex of warehouses supplying the Group's pipe products to Russian regions, a company specialising in sourcing and processing of scrap metal (META), facilities producing pipeline equipment (SOT, ETERNO, MSA (Czech Republic)), and the Rimera Group responsible for oilfield services.

Thanks to the use of safe technologies and materials, ChelPipe Group's modernised enterprises have a minimal environmental impact and produce environmentally friendly products. The company supports social projects and provides conditions that allow its employees to enjoy a healthy lifestyle.

02.03.2020 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
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Language: English
Company: ChelPipe Group
5, Lesnaya St., Bld. V
125047 Moskow
Phone: +7 (495) 775 35 55
E-mail: info@chelpipe.ru
Internet: https://chelpipegroup.com
ISIN: XS2010044548, US16325LAA52
Listed: Foreign Exchange(s) Moscow
EQS News ID: 987275

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987275  02.03.2020 MSK