Early Life
Alexey Alexandrovich Mordashov was born on September 26, 1965, in Cherepovets, Russia, to parents who were steel mill workers. He graduated with a bachelor's and master's degree in engineering from the Leningrad Engineering-Economical Institute. He later earned an MBA from Northumbria University in Newcastle upon Tyne, England, in 2001.
Rise to Success
Mordashov began his career at the Cherepovets Steel Mill in 1988 as an economist. He became the finance director in 1992, shortly before the company was privatized. In 1996, he became the CEO of the company and built a conglomerate, Severstal, acquiring steel, coal, and mining companies.
Key Business Strategies
Mordashov's key strategies involved acquiring shares in the steel mill during privatization and expanding Severstal through strategic acquisitions. He invested in US steel companies and also purchased shares in TUI Travel, later holding a significant stake in TUI Group. He also transferred some of his holdings to his sons to provide them with business experience.
Philanthropy
Mordashov is known for his philanthropic contributions, supporting various educational and cultural projects within Russia to improve social infrastructure and support local communities.