SourcingApr 04, 2023
Botswana Government Takes Stake in HB Antwerp SourcingMay 17, 2023
Alrosa Names New CEO
Sergey Ivanov Jr., who is under U.S. sanction, is out, replaced by Almazy Anabara CEO Pavel Marinychev.
Pavel Marinychev, who has headed Alrosa subsidiary JSC Almazy Anabara since 2016, is the new CEO of Russian diamond mining company Alrosa.
Moscow—Alrosa’s supervisory board named a new CEO Wednesday, tapping Pavel Marinychev, a former government official in Yakutia who most recently served as CEO of Alrosa subsidiary JSC Almazy Anabara.
Marinychev succeeds Sergey Ivanov Jr., who became Alrosa’s youngest CEO when he was appointed to the position in 2017 but came under U.S. sanction shortly after Russia invaded Ukraine because of his close ties to Russian President Vladimir Putin.
Ivanov Jr. is the son of Sergey Ivanov Sr., a high-ranking Kremlin official who has been on the Office of Foreign Asset Control’s Specially Designated Nationals list since 2014, and he is a board member of Russian financial institution Gazprombank, another sanctioned entity.
Reports of his pending resignation first started circulating in December.
He is stepping down from his position as Alrosa CEO about two years early, as his contract does not expire until 2025, and the official announcement of his resignation comes just as the G7 is weighing tighter sanctions on Russian diamonds globally.
Related stories will be right here …
Marinychev succeeds Sergey Ivanov Jr., who became Alrosa’s youngest CEO when he was appointed to the position in 2017 but came under U.S. sanction shortly after Russia invaded Ukraine because of his close ties to Russian President Vladimir Putin.
Ivanov Jr. is the son of Sergey Ivanov Sr., a high-ranking Kremlin official who has been on the Office of Foreign Asset Control’s Specially Designated Nationals list since 2014, and he is a board member of Russian financial institution Gazprombank, another sanctioned entity.
Reports of his pending resignation first started circulating in December.
He is stepping down from his position as Alrosa CEO about two years early, as his contract does not expire until 2025, and the official announcement of his resignation comes just as the G7 is weighing tighter sanctions on Russian diamonds globally.
In appointing Marinychev, Alrosa said it has chosen a leader who is a “highly skilled, advanced, proactive manager and a deeply decent person always caring about people’s wellbeing.”
Marinychev will serve a three-year term as CEO.
The company, which remains under sanction, said his appointment is “aimed to address the current challenges the company is facing, given his extensive experience in mining and huge expertise in diamond production, exceptional personal effectiveness and high potential in management.”
The 44-year-old Marinychev started his career in 2000 as a specialist in the Economics Department at the Republic of Sakha’s (Yakutia’s) Ministry of Fuel and Energy.
He spent more than a decade in various government roles, including serving as first deputy chairman of Yakutia overseeing geology, subsoil use, industry, housing, energy and construction from 2010 to 2016.
In 2016, he became CEO of JSC Almazy Anabara, the Alrosa subsidiary that mines diamonds in Yakutia.
Marinychev was born in Yakutsk, the capital of Yakutia, and is married with two daughters.
He said, “As CEO, I’ll keep working to consolidate the company’s dominant position on the global diamond market. Our strategic objectives remain the same. We will develop our resource base, increase production efficiency and enhance management quality despite the challenging geopolitical environment.
“As before, special focus will be given to the growth of Alrosa’s talent pool as well as to health and safety issues and environmental protection. We will unquestionably continue our support of social and environmental projects in the regions of our operations.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
EditorsMay 07, 2024
Q&A: Author Vikki Tobak on the ‘Ice-Cold’ ExhibitionTobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
EditorsMay 07, 2024
10 On-Theme Looks from the 2024 Met GalaStars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
IndependentsMay 07, 2024
112-Year-Old New Orleans Business Popping Up in Aspen M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
MajorsMay 07, 2024
Richemont Acquires Italian Jeweler VhernierThe branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CollectionsMay 07, 2024
These ‘Luminaries’ Are Set to Light Up CoutureThe six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
AuctionsMay 07, 2024
Sotheby’s to Auction Sylvester Stallone’s WatchesThe highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 07, 2024
Phillip Gavriel Pays Tribute to Venice With New CollectionThe “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Events & AwardsMay 07, 2024
JA Now Accepting Applications for New Bench Jeweler ScholarshipThe Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Policies & IssuesMay 06, 2024
Rolex Files Objection to Hallmark’s New Trademark ApplicationThe Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
EditorsMay 06, 2024
Q&A: 8 Questions With Anglo American’s Benny Oeyen The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
MajorsMay 06, 2024
Malabar Gold & Diamonds Opens 4th U.S. ShowroomThe Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Events & AwardsMay 06, 2024
Ben Bridge Jeweler Accepting Applications for Lonia Tate ScholarshipIt will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
