Novolipetsk Steel to Elect New President, Replacing Oleg Bagrin

Novolipetsk Steel (NLMK.MZ) said Tuesday that it will convene an extraordinary shareholder meeting to elect a new executive president.

The Russian steel company said shareholders with at least a 2% shareholding will have the right to put forward candidates for the president position until Feb. 12.

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Current president Oleg Bagrin will step down from the role but remain a member of the board of directors, the company said.

Moscow-listed shares were down 2.1% at 149.30 rubles ($2.64) at 1416 GMT.

Write to Adam Clark at; @AdamDowJones

(END) Dow Jones Newswires

January 16, 2018 09:40 ET (14:40 GMT)