Russia’s diamond mining juggernaut, Alrosa, has confirmed that Pavel Marynichev has assumed the role of CEO following the departure of Servey Ivanov.
Marynichev comes to the position having served as a government official for the Republic of Sakha (Yakutia). He has previously served as CEO of Alrosa’s Almazy Anabara project.
“I appreciate the trust placed in me by the Alrosa supervisory board. As CEO, I’ll keep working to consolidate the company’s dominant position on the global diamond market,” he said in a statement.
“Our strategic objectives remain the same. We will develop our resource base, increase production efficiency and enhance management quality despite the challenging geopolitical environment.
“We will unquestionably continue our support of social and environmental projects in the regions of our operations.”
Ivanov became CEO of Alrosa in 2016 and was scheduled to hold the role until at least 2025; however, he has been sanctioned by the US government in response to the invasion of Ukraine due to his relationship with Vladimir Putin.
Marynichev is expected to serve as chairman and CEO for at least three years. His election was unanimous.
Alrosa is responsible for approximately one-third of the world’s diamond supply, however, the company has been excluded from much of the international market since early 2022.
The company was added to the US Department of the Treasury’s Office of Foreign Assets Control Specially Designated Nationals list in April of last year.
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