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Sergey Ivanov Will Step Down As Head Of ALROSA

Sergey Ivanov
Sergey Ivanov

Sergey Ivanov, who has headed the world's largest diamond mining company ALROSA since March 2017, has decided to resign before the expiration of his employment contract. RBC was told this by a source close to the top manager and the news was confirmed by a source in the government of Yakutia.

“The Brief Telegram channel was the first to announce the impending resignation. According to the channel, the investment group Volga Group of Gennady Timchenko (a major co-owner of NOVATEK and Sibur) may become Ivanov's new job. A source close to the top manager told RBC that he could move to one of the units associated with the Volga Group as a partner in one of the projects. Representatives of ALROSA and Volga Group declined to comment,” RBC said in a statement.

ALROSA produces a quarter of all diamonds in the world. In 2021, its revenue grew by 50% to RUB 332 billion, driven by a 42% increase in diamond sales and a 13% increase in the price index. The company's net profit increased by 2.8 times, amounting to 91.3 billion rubles. The Federal Property Management Agency owns a 33% stake in ALROSA, Yakutia owns 25% plus one share, and another 8% belongs to the Yakut uluses. The remaining 34% are traded on the stock exchange.


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