Source: https://exechange.com/10137/mechel-cfo-sergey-rezontov-leaves-2
Timestamp: 2019-04-23 06:27:14+00:00

Document:
(exechange) — Moscow, Russia, December 29, 2017 — Sergey Rezontov, finance chief of Mechel, leaves. As announced by Mechel PAO in a news release and in a regulatory filing published on Friday, December 29, 2017, Sergey V. Rezontov leaves his post as Chief Financial Officer at the Russian mining and metals company after about a year and a half in the position.
The exact date of Rezontov’s departure was not specified in the announcement. Obviously, it was an abrupt change.
Mechel has already removed the name of Rezontov as Chief Financial Officer from the leadership page.
Mechel did not name a replacement for the position of Chief Financial Officer.
In the announcement, the company did not detail the personal reasons causing Rezontov to leave the position, leaving room for speculation. Generally speaking, “personal reasons” may include, among others, family-related reasons, health reasons or disagreement.
Precise information about Rezontov’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for investors when a CFO leaves the position with no date given and without a reasonable explanation.
The change follows a decline in the share price of Mechel PAO since January 2017.
Mechel PAO is chaired by Igor V. Zyuzin.
Igor V. Zyuzin has been the Chairman of Mechel PAO’s Board of Directors since July 2010.
Oleg V. Korzhov serves as CEO of Mechel PAO. Oleg V. Korzhov has been holding the position of Mechel’s Chief Executive Officer since January 2014.
Sergey V. Rezontov has been Mechel PAO’s Chief Financial Officer since June 15, 2016.
Prior to his appointment, in 2014-2016 Rezontov headed Mechel’s financial department.
In 2013-2014, he worked as deputy chief executive officer and financial officer of Lysva Metallurgical Company UK OOO.
In 2012, he was deputy director of Mechel’s treasury operations department.
In 2006-2012, he worked first as a specialist and then as head of Mechel’s corporate financing department.
In 2004-2006, he was manager of the metals and mining team in the corporate clients department of Commerzbank (Eurasia) ZAO.
Rezontov graduated from Plekhanov Russian Academy of Economics with a degree in management.
It is not completely certain what forces eventually triggered Sergey Rezontov’s move.

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