Viktor Rashnikov - Hero of Magnitogorsk Metallurgy
Viktor Filippovich Rashnikov - billionaire Russian businessman, who according to Finance magazine ranked 14th in Russia in 2010 and 71st in the world according to Forbes magazine, with a fortune of $9.8 billion. He is currently the Chairman of the Board of Directors of Magnitogorsk Iron and Steel Works, OJSCThe company is also Chairman of the Strategic Planning and Corporate Governance Committee and President of MMK Management Company LLC.
Viktor Rashnikov was born on October 13, 1948 in Magnitogorsk, Chelyabinsk Region into a family of workers. He received two higher education degrees in Metal Forming and Production Management in 1974 and 1994, respectively. He also has a degree of Doctor of Technical Sciences and is the author of many scientific articles and research in the field of improvement of metal working process.
He began his career at the age of 20 at the Magnitogorsk Iron and Steel Works as a fitter in the sheet metal rolling shop. Eight years later he became head of a similar shop, and 9 years later, at the age of 37, he became head of a production shop and deputy chief engineer. In 1991, when the USSR collapsed, Rashnikov became chief engineer and at the same time first deputy general director of MMK.
Become the head of the plant Rashnikov was helped by a conflict between the plant's manager (at that time Anatoly Starikov) and the company's shareholders. The essence of the conflict was that Starikov proposed to issue additional shares of the plant in order to restructure the debt to the budget. However, the major shareholders including FIG Magnitogorskaya Stal (about 30%), Inkombank (10%) and Trans World Group (13%) did not agree to this step as they were losing part of their stake so Viktor Rashnikov was elected the new General Director at the extraordinary meeting. This happened in August 1997. At the same time, Victor Lisin joined the Board of Directors, Viktor Khristenko became a representative of state structures, and Rashit Sharipov, the general director of MMK's subsidiary, Magnitogorsk Steel, became the Chairman of the Board of Directors.Rashnikov had a conflict with the latter by the end of 1997 - beginning of 1998. During the process of obtaining a loan from the European Bank for Reconstruction and Development
For $100 million, MMK undertook to transfer to the EBRD 25% of its own shares. However, the deal fell apart because they were not in the company's assets. The shares were sold to front companies. Naturally, Rashit Sharipov was removed from his position.
Victor Rashnikov is married to Tatyana Kuzmina. He has two daughters, two granddaughters and a grandson. His younger brother, Sergey Rashnikov, is a business partner and general director of the affiliated company CJSC Management Company Profit, which supplies scrap metal to the combine. The billionaire is also active in politics and has received a lot of awards and prizes. As a hobby he has chosen mountain and water skiing, and is an avid ice hockey fan. President of the Metallurg - Magnitogorsk hockey clubone of the strongest teams in Russia.
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