Alrosa Reelects Pavel Marinychev as CEO

Alrosa has unanimously reelected Pavel Marinychev as its CEO and chairman of the managing board for another three-year term.

Marinychev joined Alrosa in 2016 and became CEO in 2023 after leading group subsidiary Almazy Anabara, the company said Monday. Previously, Marinychev served for over six years as first deputy chairman for the regional government of Yakutia, where his responsibilities included geology and subsoil use, industry, energy and construction.

In 2023, the US Department of State placed sanctions on Marinychev as part of its efforts to restrict Russian access to finances in its war against Ukraine. The designation blocks access to any US-owned property or interests belonging to Marinychev and prohibits any transactions involving him, his assets, or Alrosa.

The war in Ukraine continues to pose challenges for Alrosa. The US and several other countries have imposed sanctions on the company, in which the Russian government holds a 33% stake, while Russian diamonds more broadly have faced Western restrictions, sanctions and boycotts.

Image: Pavel Marinychev. (Alrosa)