Maxim Basov appointed SUEK CEO

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).

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.

“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.