Early Life
Viktor Filippovich Rashnikov was born on October 13, 1948, in Magnitogorsk, Russia. He began his career at Magnitogorsk Iron & Steel Works (MMK) in 1967 as a fitter in the company's repair shop.
Rise to Success
Rashnikov's career at MMK progressed steadily. By 1991, he held the positions of Chief Engineer and First Deputy General Director. In 1997, he became the General Director, and in 2005, he was appointed Chairman of the Board. Under his leadership, MMK expanded its production capabilities, modernized its facilities, and became a publicly traded company.
Key Business Strategies
Rashnikov implemented significant investment programs at MMK, including modernizing blast furnaces and constructing new facilities. He focused on technological innovation and increasing production efficiency, which helped the company double its steel production. He also oversaw the company's listing on the London Stock Exchange in 2007.
Philanthropy
Viktor Rashnikov allocates about $25 million annually to social and charitable pursuits, including building sophisticated medical facilities, two ski resorts in the Urals, and implementing significant environmental activities at MMK to reduce emissions. He is a major contributor to the Metallurg Charity Fund.