OREANDA-NEWS. 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.”