New Alrosa President ‘Committed to Continuing Firm’s Strategy’March 20, 17
(IDEX Online) – Sergey Ivanov, the new president of diamond miner Alrosa said he was committed to the firm’s strategy in the first comments made since he assumed the top job last week.
"I would like to assure you that I am committed to this strategy and intend to make every effort to deliver it," Ivanov told a conference call with analysts on Thursday, organised to discuss Alrosa's 2016 financial results reported by Reuters.
Ivanov, 36, had served as a senior vice-president of Russia's largest lender Sberbank since April 2016 and headed insurer SOGAZ before that.
Alrosa last week reported a fourfold increase in its 2016 net profit to $2.3 billion thanks to higher sales and a weaker rouble.
Igor Kulichik, Alrosa's Chief Financial Officer, told the call that the group had cut its diamond stockpile by 3 million carats to 19 million carats worth $1.8 billion in 2016 and does not plan to reduce it further in 2017, Reuters reported.
The company plans to produce and sell 39 million carats of diamonds this year, he added.