MOSCOW, June 4. /TASS/. Severstal has worked out a new development strategy for the period from 2024 to 2028, Chief Executive Officer Alexander Shevelev told TASS before the St. Petersburg International Economic Forum, adding that the company has already started implementing it.

"In the updated strategy for 2024-2028, which we have already started implementing, we singled out five strategic areas of focus where we set specific goals for five years. That said, it should be stressed that we maintained the main elements of the previous strategy, which forms our competitive advantage," he said.

Severstal completed the implementation of the previous strategy in 2022, Shevelev added. "By the end of the previous strategic cycle we met almost all goals set, including the core metric, total shareholder return. Moreover, we have become more stable and flexible, which enabled us to face challenges properly and form an updated strategy for 2023 amid new geopolitical conditions," he said.

The St. Petersburg International Economic Forum will be held on June 5-8. The main theme of this year’s Forum is ‘The Formation of New Areas of Growth as the Cornerstone of a Multipolar World’. The Roscongress Foundation acts as an organizer. TASS is the information partner of the event.