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Alexey Mordashov & family

Alexey Mordashov & family
Alexey Mordashov & family

Alexey Mordashov, a majority shareholder in steel company Severstal, resigned as CEO in 2015 after 19 years in the role. A year earlier, he sold all of Severstal’s North American units to focus on the Russian business. He also owns about 30% of TUI Group, one of the biggest travel and tourism companies in the world. His Russian power equipment producer, Power Machines, which has a joint venture with Siemens, was hit by U.S. sanctions in 2018. The son of mill workers, Mordashov rose to become the finance director of a steel mill. When the plant’s elderly director instructed him to acquire shares to keep them from an outsider, Mordashov kept most of them for himself.

Written by shashank

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