Share

Evraz appoints new CEO

Johannesburg - South African steel and vanadium producer Evraz Highveld said on Wednesday it has appointed Jan Valenta as its new chief executive as the company struggles to return to profitability after two years of losses.

Valenta was the company's financial director prior to his appointment and is succeeding Michael Dennis Garcia who stepped down. Valenta's appointment is effective April 15.

The company appointed Olga Luzik as its new financial director.

Evraz said last month that it was unable to borrow more money after it posted a loss for the second straight year.

It said its credit lines were "fully drawn and may not be sufficient to support the company if the company cannot achieve its production and sales and cost targets".
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Do you think corruption-accused National Assembly Speaker Nosiviwe Mapisa-Nqakula will survive a motion of no confidence against her?
Please select an option Oops! Something went wrong, please try again later.
Results
No, her days are numbered
42% - 388 votes
Yes, the ANC caucus will protect her
58% - 538 votes
Vote
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE