Andrei Kozicin is once again serving as the CEO of UGMC.
In a notable turn of events, Andrey Kozitsyn has returned as the CEO of Ural Mining and Metallurgical Company (UGMK), also known as UGMK, on July 3, 2025. This decision comes after Kozitsyn was removed from the EU sanctions list on September 18, 2024.
Kozitsyn's tenure at UGMK spans over four decades, with his initial appointment as CEO in 2002. Prior to this, he served in various roles within the company from 1981. His leadership and contributions have been significant, earning him a place among the 146 wealthiest people in Russia according to Forbes magazine.
However, a series of events unfolded in 2022 that led to Kozitsyn's temporary departure from his role. On July 21, 2022, Kozitsyn was included in the EU sanctions list. In response, Kozitsyn resigned from the board of directors of AO "Uralelektromed" before the sanctions were announced. Elfat Ismailov served as the acting CEO of UGMK from July 22, 2022, to July 2, 2025, during this period.
Kozitsyn stepped down from his CEO position two days before the announcement of the sanctions list. It is unclear from the available information why he chose to resign at that specific time.
The lifting of the EU sanctions in 2024 paved the way for Kozitsyn's return to UGMK. The court of the European Union ruled to remove him from the sanctions list on September 18, 2024. The reasons behind this decision are not explicitly stated in the available data.
Canada also imposed sanctions on Kozitsyn personally, but details about the circumstances and timeline are not provided in the given context.
This brief account provides an overview of Andrey Kozitsyn's career at UGMK, focusing on the events related to the EU sanctions and his subsequent return to the company. For a more detailed timeline or specific information about the reasons behind these events, further sources or updated information would be necessary.
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Kozitsyn's return to UGMK as CEO in 2025 was influenced by the removal of his name from the EU sanctions list in September 2024. Involved in UGMK's business and finance for over four decades, Kozitsyn's significant leadership contributions also extended to the financial sector, bolstering his wealth and placing him among Russia's 146 wealthiest individuals.
