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. Rashnikov earned a bachelor's degree in metal forming process from the Magnitogorsk Institute of Mining and Metallurgy in 1974. He also holds a degree in Organization of Production Administration (1994), and a doctorate in Technical Sciences (1998).
Rise to Success
Rashnikov's career at MMK progressed steadily. By 1991, he became Chief Engineer and First Deputy General Director. In 1997, he rose to the role of General Director. Finally, in 2005, he became Chairman of the Board. Under Rashnikov's leadership, MMK experienced significant growth.
Key Business Strategies
Rashnikov has played a pivotal role in the growth and success of MMK. He oversaw the doubling of steel production from 6 million to 12 million tonnes annually by 2007. He implemented a comprehensive investment program including the modernization of blast furnaces and the construction of new facilities. This included investments of $13 billion from 2000 to 2016, with approximately $10 billion dedicated to MMK's development. MMK became a publicly traded company on the London Stock Exchange in 2007. Rashnikov also implemented environmental initiatives.
Philanthropy
Viktor Rashnikov is known for his philanthropic efforts, allocating approximately $25 million annually to social and charitable pursuits through MMK's Metallurg Charity Foundation. These initiatives include healthcare facilities, two ski resorts, and various environmental activities. He also supports educational and sports initiatives.
