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Maxim Basov appointed SUEK CEO

11 April 2022
Samir Brikho, Chairman of the Siberian Coal and Energy Company (SUEK JSC) Board of Directors presented today the company’s new CEO, Maxim Basov.

Maxim Basov, a graduate of New York University, was born in 1975. His professional experience includes coal company management at Kuzbassugol JSC and Severstal-Resurs JSC, as well as positions at several metallurgical companies. Basov headed the Rusagro Group from 2003 to 2021.

Presenting the new CEO to the top management, Mr. Brikho said that Maxim Basov’s main task will be the transformation of SUEK as a coal company. He noted that the company would be accelerating the process of separation from its logistics operator (National Transport Company – NTC) and its energy company (Siberian Generating Company – Sibgenco).

“Starting on April 12, Maxim Basov will face the task of leading our company through this period of acute adaptation to new conditions, a result of dire geopolitical tension. In the last several weeks, we have seen a drastic change in the availability of financing, commercial relationships, sea-based and land-based logistics, and in our work with equipment suppliers and services,” said Mr. Brikho.

Stepan Solzhenitsyn, who until now served as CEO, will take on the position CEO of Sibgenco while remaining SUEK’s first deputy CEO. Solzhenitsyn will be responsible for the separation and development of the energy business, the development of a stable system of coal supply for utilities, railroad logistics and new routes, as well as alternative coal/energy technologies.

As of March 2022, Andrey Melnichenko and Vladimir Rashevskiy are no longer members of the SUEK Board of Directors, nor are they shareholders.

“In such a complicated time for SUEK, the acquisition of a professional of Maxim Basov’s level is definitely a game-changer. The Board wishes Mr. Basov every success and will support him in every way, as he navigates the current – truly critical – situation,” Mr. Brikho said.

SUEK is one of the world’s leading coal producers, the largest coal producer, supplier and exporter in Russia, as well as a leading heat and electricity producer in Siberia. SUEK’s mining, processing, energy, transport and service facilities are located in 12 regions of Russia. The company employs over 70,000 people.

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