VSMPO-AVISMA Corporation’s Board of Directors considered a number of their corporate management’s further development strategies, since the highly competitive titanium market makes it essential for the company to keep introducing the most advanced business approaches in management.

The corporation’s BOD decided to modify their management structure by introducing the position of the company’s President, who will report directly to the Board of Directors. The BOD’s next meeting at the end of August 2008 will be devoted to going over all the documents that regulate the relations between the corporation’s President, the Board of Directors, and the General Director. Besides, the future President’s labor contract will be discussed with the candidate. After this has been done, Vladislav Tetyukhin will probably be appointed VSMPO-AVISMA Corporation’s President on September 1, 2008, while the former executive of Norilsk Nickel Evgeniy Romanov will become the company’s General Director.