OREANDA-NEWS. At a meeting on 13 June 2007, OMZ’s Board of Directors terminated early, by mutual consent, the powers of Evgeny Sergeev as OMZ’s CEO and appointed Valery Chernyshev as the Company’s new Chief Executive Officer. In addition, the Board voted for the early termination of the powers of the Management Board of OMZ.

Mr. Chernyshev started his career at Izhorskye Zavody in St. Petersburg in 1972, where within 22 years he was promoted from a foreman to the plant’s technical director. In 1994 Mr. Chernyshev was appointed as the CEO of Elektrosila, and later, Leningradsky Metallichesky Plant. From 1998 until 2001 Valery Chernyshev was the head of the power generation department at Energomashinostroitelnaya Korporatziya and from 2001 until 2003 he was the CEO of Leningradsky Elektromashinostroitelny Plant. Before joining OMZ, Mr. Chernyshev was the CEO of LEK, one of the largest construction companies in the North-East of Russia. Mr. Chernyshev is a graduate of the Kuybyshev Aviation Institute.

OMZ (Uralmash-Izhora Group) is one of the largest Russian heavy industry enterprises. It specializes in engineering, production, sales and maintenance of equipment and machines for the nuclear power industry, and also in the production of special steels. OMZ divisions’ facilities are located in Russia (Uralmash and Izhorskiye Zavody) and the Czech Republic (Pilsen Steel and Skoda JS). Currently OMZ is focused on a program related to the optimization of its business processes. The program is aimed at raising the company’s efficiency and investment attractiveness.