ALROSA Supervisory Board will consider the candidacy of Pavel Marinychev for the position of CEO-Chairman of the Executive Board

ALROSA Supervisory Board will consider the candidacy of Pavel Marinychev for the position of CEO-Chairman of the Executive Board

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15 May 2023

In connection with the planned resignation of Sergey Ivanov Pavel’s candidacy will soon be submitted for consideration by the Company's Supervisory Board in order to maintain continuity in ALROSA's strategy implementation and long-term development program, maintain and further ensure our stable position on the global diamond market in the current geopolitical environment, and to effectively continue the transformation processes and key prospective projects.

Since March 2017, Sergey Ivanov has served as CEO of ALROSA. Under his direction, the Company has achieved historical hights in its production and sales volumes and has significantly increased labor productivity and efficiency. These achievements were possible due to complete reorganization of the sales and distribution system, modifications to the procurement system and financial policy, strengthening and upgrade of the leadership team, measures to ensure transparency and resistance to external risks, balanced corporate governance policy, and full-scale automation. As a result, on the one hand, the company has outstanding performance, reaching all time heights and records in production, sales and dividends, on the other – achieving significant results in restructuring critical management areas, including sales, procurement, mining and finance, thus bringing order to the business and launching more than a hundred projects that will stand as a guarantee of sustainability and transparency for many years to come. The most essential task now is to ensure consistency in the current strategy implementation, paying due attention to the protection of stability of the natural diamond market and, consequently, social and environmental resilince of Yakutia, the main region of operations.

The appointment of Pavel Marinychev as CEO is therefore aimed to address the current challenges the company is facing, given his extensive experience in mining and huge expertise in diamond production, exceptional personal effectiveness and high potential in management.

Since 2016, Pavel Marinychev has been leading one of the key operational assets of ALROSA Group – Almazy Anabara diamond mining company. Previously, for more than six years as First Deputy Chairman of the Government of Yakutia (ALROSA's main region of operations in the Far North) he supervised geology, subsoil use, industry, housing, energy and construction issues. Pavel Marinychev has always been part of Yakutia's distinct reserve of management and ALROSA's pool of candidates for key leadership positions. The position of ALROSA's CEO requires a manager with his experience in mining operations, knowledge of the company’s specifics and a deep understanding of the internal processes.

Pavel is a highly skilled, advanced, proactive manager and a deeply decent person always caring about people’s well-being. He is one of the most efficient and forward-looking managers in the company, enjoying unquestionable authority in the team and repeatedly proving his worth during crises.

Anton Siluanov, Minister of Finance of the Russian Federation and Chairman of the Supervisory Board of ALROSA: "Over the past few years, the company has been able to fully restructure all of its critical activities, including sales, procurement, mining, and finance. The outcome is ALROSA's all-time highest levels of production, sales, and dividends. To guarantee the longevity and openness of ALROSA's activities for years to come, the Company has assembled one of the best management teams on the market and started more than a hundred initiatives. The key focus right now is to retain what has been accomplished in light of the current geopolitical realities and to ensure continuity in the strategy's implementation. The instructions from the Russian government regarding the acceptance of Sergey Ivanov’s resignation from his position as CEO – Chairman of the Executive Board and the selection of Pavel Marinychev as company CEO have been received, and the Supervisory Board meeting will take place soon.”

Aisen Nikolayev, president of the Republic of Sakha (Yakutia), stated, "I am very grateful to Sergey Ivanov. Over the past six years, ALROSA has made a giant step in its development and transformation as a global leader in diamond mining, has formed a solid foundation for many years ahead, has become financially transparent to shareholders, and, as a backbone for Yakutia’s economy, has always maintained an effective dialogue on social interaction. Today, the position of ALROSA new CEO calls for a manager with relevant production experience, familiarity with the intricate details of the business, and in-depth knowledge of the procedures that have recently been implemented in the organization. I've known Pavel Marinychev for a long time, both via our interactions with him as the head of Almazy Anabara and through his work in the Government of Yakutia. Therefore, I endorse him as a very capable, forward-thinking, and active leader who also happens to be incredibly decent and constantly thinks about the needs of others and the growth of our region.”

Sergey Ivanov, Outgoing CEO of ALROSA: “Our management team, including the top management and those responsible for all major functions and assets of the Group, fully support the recommendation to appoint Pavel Marinychev as CEO. He is one of the most talented and promising managers, he has unconditional authority within his team and repeatedly proves his effectiveness, in crisis situations as well. His appointment will allow the company to evolve in accordance with the Group's current strategy and avoid the risk of a transitional phase of management change without halting the implementation of the plans adopted.”

Pavel Marinychev’s Career

2000 - Leading specialist of the Economics Department at the Ministry of Fuel and Energy of the Republic of Sakha (Yakutia).

2001 - Leading Specialist of Department on Regulation of Electricity Tariffs of the State Committee for Pricing Policy - Regional Energy Commission of the Republic of Sakha (Yakutia).

2002 - Chief Specialist of the Heat and Gas Tariff Regulation Department of the Regional Energy Commission of the Republic of Sakha (Yakutia).

2002 - 2004 - Head of the Fuel Resources Price Regulation Division of the Regional Energy Commission of the Republic of Sakha (Yakutia).

2002-2004 - Head of the Department for Prices for Fuel Resources and Transport Services of the State Committee for Pricing Policy, Regional Energy Commission of the Republic of Sakha (Yakutia).

2004-2005 - Deputy Chairman of the State Committee on Price Policy - Regional Energy Commission of the Republic of Sakha (Yakutia).

2005-2010 - Deputy CEO, First Deputy CEO of Sakhatransneftegaz.

2010-2016, First Deputy Chairman of the Government of the Republic of Sakha (Yakutia) covering geology, subsoil use, industry, housing, energy and construction.

Since 2016 – CEO of JSC Almazy Anabara, a diamond mining subsidiary of ALROSA.

Born on 25 October 1978 in Yakutsk, the capital of Yakutia. Married, raising two daughters.

ALROSA Supervisory Board appoints Pavel Marinychev as the Company's CEO
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