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New Boss Looks to Streamline Alrosa

Jul 4, 2017 8:08 AM   By Rapaport News
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RAPAPORT... Alrosa’s new president is planning a cost-reduction program that is likely to include job cuts as he seeks to make the operation more efficient and easier to run, the rough-diamond producer said.

The Russian miner is “facing changes in the administrative staff with a view to improve the company’s internal efficiency,” said Sergey Ivanov (pictured), who replaced Andrey Zharkov in the top job in March. Alrosa will gradually reduce expenses, making “structural and staff changes” if the circumstances require, according to a statement last week.

Staff costs grew 8.5% to $736.6 million (RUB 43.69 billion) in 2016, according to Alrosa’s year-end financial report.

“The company needs to be reformed inside to have greater manageability and transparency,” Ivanov said. “We will modify business processes, improve quality of managerial decisions and performance discipline, and, of course, optimize costs.”

Separately, Alrosa appointed Alexey Ivanov as head of its branch in Vladivostok, which focuses on sales to the Asian market, the miner announced Monday. A former head of Alrosa’s representative office in Israel, he will be responsible for developing the branch and sourcing new clients. He will also be in charge of expanding the company’s presence at the Eurasian Diamond Centre, a hub for targeting potential clients in China and other countries in the region.
Tags: Alexey Ivanov, Alrosa, andrey zharkov, asia, business processes, Eurasian Diamond Centre, mining, Mining Companies, Rapaport News, Sergey Ivanov, Staff costs, Vladivostok
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