Moscow, 14 March 2013. SIBUR today announces the appointment of Pavel Malyi, Member of the Board of Directors and Chairman of Finance Committee, as Chief Financial Officer (CFO) of the Company. Alexey Philippovskiy, Deputy Chairman of the Management Board and current CFO, is stepping down to pursue other interests and will leave the Company in June 2013.
Until his departure, Alexey Philippovskiy will retain his position as Deputy Chairman of the Management Board and CFO of SIBUR. During this period Mr Malyi and Mr Philippovskiy will work together to ensure a smooth transition*.
Dmitry Konov, CEO of SIBUR, commented:
“Alexey has made an important contribution to the development of SIBUR’s financial function, supporting the Company’s strong performance and our continuous efforts to enhance transparency and establish an open dialog with the investment community. We would like to thank him for more than eight years of service and wish him great success in his future undertakings.”
Commenting on the appointment of Pavel Malyi as the new Chief Financial Officer, Mr Konov added:
“Pavel has a deep knowledge of the Company and outstanding financial expertise which we are confident will contribute to the Company’s consistently strong financial management and sustainable growth going forward.”
Note to editors:
Pavel Malyi has been a Director of the Company since April 2011. Since then he has served as Chairman of the Finance Committee and is a member of the Strategy and Investments Committee of the Company's Board of Directors. Since April 2012, Mr. Malyi has been Managing Director of OOO LEVIT. From 2011 to 2012, Mr. Malyi served as President of ZAO Miracle. Mr. Malyi served as Director, Executive Director, Managing Director and Head of UBS Investment Bank in the Russian Federation, Ukraine and Kazakhstan from 2004 to 2010. Mr. Malyi graduated from the Moscow State Institute of International Relations (MGIMO) in 1991 with a degree in international law. In 1995, Mr. Malyi graduated with a Master's degree from the University of Chicago Law School.
Alexey Philippovskiy joined the Group in September 2004. From October 2004 to 2006, Mr. Philippovskiy held the position of Head of the Finance and Economics Department. Since 2007, Mr. Philippovskiy has been Chief Financial Officer of the Management Company. Since June 2007, Mr. Philippovskiy has been a member of the Company's Management Board. Since January 2012, Mr. Philippovskiy has served as Deputy Chairman of the Management Board of the Management Company. From 2007 to 2011, Mr. Philippovskiy was a member of the Board of Directors of OAO Russian Tyres and from 2008 until 2012 he was Chairman of the Board of Directors of ZAO SIBUR-Trans. Since 2011, Mr. Philippovskiy has been a member of the Board of Directors of OOO ITSK. Prior to joining the Group, Mr. Philippovskiy served as a consultant in the Moscow office of McKinsey & Company. Mr. Philippovskiy graduated from the Ural State Technical University in 1995 with a degree in engineering and economics. From 2000 to 2002, Mr. Philippovskiy studied at Anderson Graduate School of Management at the University of California, Los Angeles (UCLA), where he received an MBA in Finance and Strategy.
* Until Mr Philipposkiy’s departure, Mr Malyi will hold the position of CFO Designate in order to ensure a seamless handover of leadership responsibilities. The CFO Designate will play an active role in all financial matters. However, the departing CFO retains the signing authority until he hands over all of his responsibilities and powers to the successor and leaves the Company.
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