Bloomberg News

Timchenko’s Gunvor Hires Deripaska’s Former Manager as Coal CEO

July 06, 2012

Gunvor Group Ltd., a trading company partly owned by billionaire Gennady Timchenko, hired Andrey Churin as head of its coal business in Russia.

Churin, former coal managing director at Oleg Deripaska’s En+Group, was made chief executive officer of the Kolmar coal business from July 3, Gunvor said in an e-mailed statement today. Gunvor and Timchenko’s Volga Resources are now closing a deal to jointly buy 60 percent in Kolmar, Anton Kurevin, a Moscow-based spokesman for Timchenko, said by e-mail.

The two companies last year funded the purchase of 51 percent of Kolmar from billionaire Mikhail Prokhorov by businessman Anatoly Mitroshin. Kolmar has licenses for steelmaking coalfields in East Siberia’s Yakutia region.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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