Interpipe appoints Andrey Korotkov as CEO

Due to force majeure, the company terminated the contract with Franz Josef Marx

Interpipe, an international vertically integrated pipe and wheel company, has appointed Andrey Korotkov instead of a German Franz Josef Marx. This was reported HB with reference to the press service of the company.

Due to force majeure, the company terminated the contract with ex-director Franz Josef Marx.

Andrey Korotkov has been CEO of the company since March 8, 2022. From the first days of the Russian invasion into the territory of Ukraine, the new CEO has been in Dnipro, where he performs the operational and strategic management of the company.

Prior to his appointment to this position, Andrey Korotkov was Deputy General Director, operations Director of the company, Director of the steel division of Interpipe.

Besides, Denis Morozov was appointed director of the pipe division.

As GMK Center reported, the ex-general director of the company Franz Joseph Marx was appointed to the position on February 1, 2022. Fady Khraibe , at the same time, continued to head the Board of Directors of Interpipe.

As a reminder, according to the results of the first quarter of 2022, Interpipe increased net profit by 69.8% compared to the same period in 2021 to $21.8 million. Revenue increased by 19% to $239.2 million, and EBITDA decreased by 63% to $15.14 million.

Interpipe is an international vertically integrated pipe and wheel company, one of the top 10 manufacturers of seamless pipes in the world and the top 3 manufacturers of solid-rolled railway wheels.