Uralmash-Izhora Group OMZ OAO : Igor Timofeev appointed as OMZ General Director

OMZ Board of Directors decided to appoint Igor Timofeev for the CEO position.

"We are glad that Mr.Timofeev accepted the offer made by OMZ Board of Directors to head the Group. He has got huge on-the-ground expertise while managing Izhorskiye Zavody, one of the Russian heavy engineering leaders, during the past two years. Under his guidance and with Gazprombank financial support, the major shareholder of the Group, a wide range of large-scale projects in the field of nuclear and petrochemical engineering were implemented", commented on the appointment the Head of the Board of Directors Vadim Makhov.

Before being appointed for the position of CEO Mr.Timofeev held senior roles in major Russian and international industrial companies.

Igor Timofeev graduated from National University of Science and Technology (MISiS), where he studied Economics and Business Administration in Iron Industry Companies. He is MBA graduate of Northumbria Business School (Newcastle, UK) and participant of presidential management training program in 2000.

The Joint Stock Company OMZ (Uralmash-Izhora Group) is one of the leading heavy industry companies specializing in engineering, production, sales and service support of equipment for nuclear, oil and gas, mining industries, as well as special steel production and industrial services. OMZ Group's facilities are located in Russia and Czech Republic. The Group is controlled by Gazprombank.

Contacts:

OMZ Group

Alexander Karlashov

Information Policy Director

Phone: [phone], ext. 1612

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