Ferrexpo plc announced that Jim North, Chief Executive Officer (CEO) and Executive Director of the Company, will step down following a period of nine years with the Group, in order to pursue other opportunities. The Board Chair, Lucio Genovese, will act as Executive Chair on an interim basis and assume leadership of the Group from 1 July 2023. The board announced the appointment of Nikolay Kladiev, Chief Financial Officer (CFO) of Ferrexpo, as an Executive Director of the Company with effect from the conclusion of the forthcoming AGM.

Mr. North will resign from the Board of the Company with effect from the conclusion of the Company's annual general meeting to be held on 25 May 2023, and will also step down from his role as a director of various Group subsidiaries. As a result, resolution 10 at the forthcoming AGM (being the resolution to re-elect Mr. North as a director of the Company) will be withdrawn and will not be put to shareholders for voting at the AGM. Nikolay Kladiev joined Ferrexpo in 2005 and since 2007 has served as a member of the Group's Executive Committee. He was appointed Group CFO in July 2021 and in both his current and prior role as CFO of Ferrexpo Poltava Mining (FPM), Nikolay has been directly responsible for maintaining the Group's position as a low cost pellet producer to the global steel sector.