The new Director General of coal SUEK Andrey Melnichenko will be Stepan Solzhenitsyn, who heads controlled Siberian generating company. The outgoing minority shareholder SUEK Vladimir Rashevsky remains on the Board of Directors of the company, and will be included in the Council’s other asset of mister Melnichenko — EuroChem. Personnel changes are explained by the transformation of SUEK, which consolidates more and more power assets.The largest coal producer in Russia, SUEK announced a change of CEO. Headed the company since 2004 Vladimir Rashevsky (which controls about 8% of SUEK) resigns, but remains on the Board of Directors. He also will join the Board of Directors of other asset Andrey Melnichenko — EuroChem. The new head of SUEK will be Stepan Solzhenitsyn, who will continue to lead the Siberian generating company (SGK), a member of the same group. Stephan Solzhenitsyn is headed by SGK in 2018 (the same year the GTS came under the direct control of SUEK), previously worked in the Russian office of McKinsey, where he was responsible for power generation and heat supply.Over the past two years, the company acquired a number of assets of coal generation, in particular, the plant in the Novosibirsk region. In 2019 the “Enel Russia” bought Russia’s largest coal-fired station — Reftinskaya GRES. SUEK also intends to buy Krasnoyarsk GRES Gazprom.”Changes in the management structure aimed at including at maximizing synergy effects within SUEK, and between SUEK and EuroChem”,— stated in the message, SUEK. Mister Rashevsky has promised to “continue to focus on investments in development of enterprises.”Photo: Gleb Schelkunov, Kommersantdaily, processing, energy, transport and service enterprises of SUEK are located in 12 regions of Russia. By the end of 2019, the coal production decreased by 4%, to 106.2 million tonnes. Installed capacity of power plants, the production volume increased by 35%, to 14.7 GW, following the acquisition of Reftinskaya GRES. Net profit decreased by 39.3%, to $706 million Prices for steam coal are under pressure because of lower demand, and in recent months, coal is cheaper in Asia, which is the main market.Eugene Zainullin March it was reported that the ALROSA Supervisory Board as a representative of the state will be the General Director SUEK Vladimir Rashevsky, the list of candidates approved by the government. The list does not included the former Minister of natural resources Sergey Donskoy.Read more
