Full name:
Rashnikov Victor
Rashnikov Victor Date of Birth
13 October 1948
Rashnikov Victor Citizenship
Russia
Rashnikov Victor Professional field/official position
Owner and President of the Magnitogorsk Iron and Steel Works (MMK)
Rashnikov Victor biography
RASHNIKOV Viktor Filipovich (b. 1948 in Magnitogorsk) has been working at the Magnitogorsk Iron and Steel Works since 1967, having risen from the position of a locksmith. In 1974, he graduated from the Magnitogorsk Mining and Metallurgical Institute. In 1991, he was appointed Chief Engineer and First Deputy General Director of MMK. In 1993, he became a co-founder of CJSC Investment Company Inreco.
Since 1997, he has been the CEO of MMK. Since 1999, he has been a Member of the Board of Inkombank, the Supervisory Board of Credit Ural Bank, as well as Magma CJSC and Tyazhpromexport CJSC related to MMK. Since 2002, he has also been a Member of the Board of Rosbank. In 2005, he became Chairman of the Board, and in 2006, President of MMK Management Company LLC.
- In 1991 he was appointed chief engineer and first deputy general director of MMK.
- In August 1993, he became one of the founders of AOZT “Investment Company” Inreko “(supply and marketing activities).
- 1994-1997 – First Deputy General Director of OAO “MMK”.
- 1997 – Acting General Director of OAO “MMK”. In the same year at the MMK shareholders meeting his candidacy was proposed by Prime-Leasing (representing the interests of Trans World Groop) and representatives of Inkombank for the position of General Director of the company. On the same day he was appointed General Director of OAO MMK. Also became a member of the Board of Directors of MMK.
- On March 13, 1998 he was elected to the Board of Directors of OAO “Central Company FIG “Magnitogorsk steel”.
- From March 1999 – Member of the Board of Directors of OAO “Inkom Bank”, a member of the Supervisory Board of OAO “Credit Ural Bank”. Member of the Board of Directors of ZAO “Magma”, created by OAO “Magnitogorsk Metallurgical Combine ” and ZAO “Tyazhpromexport”.
- In 2000, Rashnikov was confidant of Vladimir Putin in presidential elections;
- From June 2002 – Member of the Board of Directors of JSCB “Rosbank”. In the Duma elections in 2003 he entered the federal list of “Unity and Fatherland – United Russia”. On December 7, 2003 yt was elected, but refused to mandate.
- From April 2005 – Chairman of the Board of Directors. Since 2006 – President of OOO “MMK Company Management”.
- He was awarded the title of laureate of the national prize named after Peter the Great “For outstanding contribution to the economy of Russia” (2000). He received numerous government and public awards. Among them – the medal “For Labour Valour” (1986), the Order of Merit (1995), the Order of Merit ” of the IV degree (1998), and III degree (2004), the Order of Peter the Great (2004), Order of the Russian Orthodox Church: The Order of St. Sergius of Radonezh (2001), The Order of St. Prince Daniel of Moscow (2005). He has been elected deputy of the Legislative Assembly of the Chelyabinsk region thrice. He is President of the Union of Industrialists and Entrepreneurs of the Chelyabinsk region, President of the International Club of managers named after Peter the Great, President of the hockey club “Metallurg” (Magnitogorsk). He is a member of the Russian Union of Industrialists and Entrepreneurs. Chairman of the Russian part of the Russian-Moroccan Business Council. Honorary Citizen of the Chelyabinsk region. He was awarded the medal “For Labour Valour”, the Order of Merit, the Order of Merit IV degree. Honorary Citizen of the Chelyabinsk region.
- In 2010, a Russian magazine called “Finance” praised Victor Rashnikov's wealth at 8 billion dollars (the fourteenth highest in Russia). On March 10, 2010, the American economic journal Forbes estimated Rashnikov's wealth at 9.8 billion dollars (ranking him 71st in the world).
- He has a strong interest in mountain and water skiing, as well as hockey. Vladimir Putin prefers skiing at the “MMK” recreation facility in the Chelyabinsk region.
Sources: www.fedpress.ru, database “Labyrinth”
Viktor Rashnikov family
Viktor Rashnikov is married and has two children.
Rashnikov Victor crimes
Rashnikov Victor is the main owner of one of the largest industrial enterprises in Russia, MMK (87.26% of the shares as of 2015), controlling it personally and through his Cypriot company, Mintha Holding Limited. He is one of the richest Russians: in the Forbes ranking of 2019, Rashnikov took 14th place with a fortune estimated at $8.9 billion.
Rashnikov Victor, link and material
Source: www.compromat.ru
Viktor Rashnikov was involved in a scandal when the website “Magnetic Claw” published materials suggesting that the combine’s operations depended on a system of 39 intermediary firms, created with the involvement of Victor Rashnikov and his deputies. These firms artificially reduced export prices for goods, with Rashnikov benefiting from the price difference. Rashnikov and his colleagues also organized coal delivery to the plant at inflated costs, and funds were allegedly stolen and laundered through Moscow banks and representative offices of foreign firms, including OOO “Magistral”. Rashnikov and the son of the mayor of Magnitogorsk, Victor Anikushin, were involved in transferring funds of the department store chain OAO “Class” through a company called “Kubanka”.
Sources: Kommersant # 172 (3256) on 14.09.2005 www.pravda.ru from 21.07.2002
Victor Rashnikov’s name was linked to a scandal in 1997 when he and his childhood friend, Chairman of the Board of Directors of the MMK Rashid Sharipov, removed the director of the MMK – Anatoly Starikov. Sharipov, as head of FIG “Magnitogorsk Steel”, then owned 30% of the shares of the MMK and wanted full control over the enterprise, leading to the removal of Starikov. The new general director of “Magnitogorsk Metallurgical Combine” became Viktor Rashnikov.
Sources: www.compromat.ru, “Vedomosti 27.03.2007
In the late 90’s, the ownership of MMC was split among the state, the enterprise's administration, FIG “Magnitogorsk Steel”, some industry enterprises, and workers. Later, the employees sold their shares at lower prices to front companies established by MMK's leadership, particularly Rashnikov. Rashnikov aimed to acquire 30% of FIG “Magnitogorsk steel” and received support from the Minister of Industry and Energy, Viktor Khristenko. Khristenko, who controlled the state's 23% stake, facilitated the fraudulent activities of MMK's management. To obtain the remaining 30% stake, Rashnikov and MMK's management proposed a flawed construction plan for “Mill-2000”. Khristenko advocated for a loan from the European Bank of Reconstruction and Development for the construction, leading to a conflict between MMK's Board Chairman Sharipov and FIG's CEO, Victor Rashnikov. Sharipov opposed the enslaving loan since the collateral was the 30% stake in FIG. As the debt was impossible to repay, Sharipov transferred the MMK's shares to companies controlled by businessman Iskander Makhmudov. Rashnikov contested this transaction in court with the assistance of the prosecutor of the Chelyabinsk region, Anatol Bragin. Sharipov was prosecuted for fraud, and eventually, the company “A Capital” became the nominal holder of the 30% stake in FPG.
Source: www.ko.ru
In May 2002, Rashnikov attempted to make changes to the combine's charter via the Board of Directors to strengthen the MMK leadership's position. The amendments proposed an additional share issue and the conversion of preferred shares into voting shares. However, the State and the Southern Kuzbass, whose shares in the MMK could be diluted as a result of the new issue, united and blocked Rashnikov's initiative.
Source: Vedomosti 06.08.2002
In August 2002, OAO “Magnitogorsk Metallurgical Combine” released consolidated financial statements following international standards. It was disclosed that members of Victor Rashnikov's family had a significant financial interest in ZAO “Profit”, which supplied 85% of the scrap metal to the plant. In 2001, the plant purchased $63 million worth of scrap metal from “Profit”.
Source: “Kommersant” # 172 [3256 dated 14.09.2005
Rashnikov's name was frequently associated with Minister of Industry and Energy Viktor Khristenko, who is reported to have a considerable stake in the MMK. In December 2004, at an auction of the state-owned stake in the MMK, Viktor Khristenko and Victor Rashnikov acquired the stake through third parties.
Source: Vedomosti 09.02.2005
In 2005, Rashnikov was in the news because of an auction for the sale of a state-owned stake in MMK. MMK's management, along with Steel Group “Mechel” and Novolipetsk Steel, participated in the auction. U.F.G.I.S. Structured Holdings won the auction by buying the stake for 790 million dollars, and another company bought “Mechel”'s stake for 780 million dollars. Additionally, “Mechel” received 90 million dollars as compensation. The buying companies were acting in Rashnikov's interests.
Source: Vedomosti # 16 (1790) on 31.01.2007
In early 2007, Rashnikov's name was in the press when FFMS published data showing that neither Rashnikov nor key managers had shares of MMK. The shares were held in trust by various entities. The reports revealed that in 2002, Steelnet Investment Management SA became a shareholder of ZAO “A-Capital”, which then owned 22.30% shares of MMK. Andrey Morozov, a vice-president of the company managing MMK, was among Rashnikov's main partners.
Source: www.newsru.com on August 23, 2007
In 2007, Rosoboronexport expressed interest in MMK, planning to bring it under the control of ZAO “RusSpetsStal” to build a special steels holding through a proposed public-private partnership. However, Industry and Energy Minister Viktor Khristenko helped MMK evade deals with “Gazmetall” and “Evrazgrupp.”
Source: newspaper “version” from 21.01.2008
Rashnikov and Alexei Mordashov (“Severstal”) lobbied for amendments to the Tax Code, making the implementation of scrappage subject to VAT. This move was supported by Deputy Pavel Krasheninnikov, to the detriment of scrappage collectors like “MAIR” of Victor Makushin.
Source: “Stringer” from 18.06.2008
Once again, Rashnikov made headlines in 2008 when retirees and veterans of MMK accused him of fraud. They claimed that Rashnikov had made MMK workers transfer their shares to the company “Mekom” in the 90s, and later told them that their shares had been sold in 2003. According to the claimants, their signatures on the transfer documents were forged.
Source: RIA “New Region” from 22.08.2008
Victor Rashnikov is ranked among the partners on investment projects of the owner of “ST Development” by Shalva Chigirinsky. Journalists predicted financial losses to Rashnikov in connection with his investments in the reconstruction of the hotel “Russia”, which was held by Chigirinsky. In 2008,the Supreme Court made a ruling invalidating the investment contract of OOO “ST Development” on the hotel reconstruction; then they immediately started talking about the fact that the losses incurred by Chigirinsky would impact on his relations with investors. In particular, they rumored that for Rashnikov the connection with Chigirinsky could turn into reputational and financial losses.
