Russian steelmaker Evraz announced another non-executive resignation on Monday, confirming Sandra Stash had stepped down with immediate effect on 4 March.
The American had only been on the board of Evraz since June, and is an independent director of a number of other firms, including Diversified Energy, Lucid Energy and Chaarat Gold Holdings.
Stash’s departure followed a similar resignation from Briton James Rutherford on Friday – also the non-executive chairman of Centamin – who had been on the Evraz board as a non-executive director for a similarly short nine months.
The FTSE 100 company, which has seen its share price slide amid Russia’s invasion of Ukraine and last week warned of the effect of sanctions, said Maria Gordon had become a member of its nominations committee with immediate effect.
In a separate announcement on Monday, Evraz also said Ilya Shirokobrod – currently its vice-president of sales and logistics – would be appointed chief executive officer of its subsidiary Raspadskaya Coal Company (RCC), which manages the coal business of its majority-owned PJSC Raspadskaya operation.
Shirokobrod would join the board of directors of Raspadskaya.
Evraz said Andrey Davydov would continue to perform his role of RCC’s general director, reporting directly to the chief executive officer, and would be in charge of operations.
The changes would become effective on 4 April.
“Ilya Shirokobrod has been with Evraz for 12 years,” the board said in its statement.
“His efforts were instrumental in setting up Evraz’s relationships with the biggest rolled steel and raw materials consumers all over the world and in establishing leadership in the rail and construction longs sectors.
“Mr Shirokobrod focused on business development, improving the level of customer service and managing the product portfolio, as well as the digitalisation of sales and new business models implementation.”
The company said Shirokobrod’s “diversified and vast” experience would create value for Raspadskaya.
“Reinforcing the Raspadskaya’s management team will scale up its key competencies and enhance the investment case.”
Evraz said it would announce the appointment of a new vice-president of sales and logistics in due course.
At 0820 GMT, shares in Evraz were up 35.67% at 82.49p.
