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Renova Management AG19 February 2014

Moscow, February 18, 2014. Viktor Vekselberg, the founder of Renova Group and Chairman of its Board of Directors will become Chairman of a newly formed Board of Renova Management AG (RMAG) in Zurich, Switzerland. RMAG will mainly focus on managing Renova Group’s international assets (primarily - OC Oerlikon AG and Sulzer AG), and, in due course, a number of additional assets of the Group as well as new assets where RMAG can bring strategic capabilities as an industrial investor in relevant sectors.

Mr. Vekselberg will be joined on the new Board of RMAG by Peter Löscher, a member of the Supervisory Board of Deutsche Bank, Josef Ackermann, a member of the Board of Royal Dutch Shell, Orit Gadiesh, Chairman of Bain & Company, and Vladimir Kuznetsov, Chief Strategy Officer of Renova Group.

Peter Löscher will take up the role of Chief Executive Officer of RMAG as a Board delegate, beginning March 2014. Also, Mr. Löscher will also be offered an opportunity to invest in the assets managed by RMAG.

“We are very proud to have gathered such a group of globally experienced business leaders for our Management Company. This will provide the company with the best international management and governance practices and will ensure its transparency and focus for the next phase of development, involving further growth and international expansion”, - said Viktor Vekselberg, Chairman of the Board of Directors of Renova Group of companies

 

Renova Group

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