Russian steel giants Severstal practice North East skills during merger talks.
It has been revealed that more than 150 of Russia's most influential business executives have completed their 'western business' education in the North East.
Severstal, Russia's largest steel company, hit the headlines recently with the announcement of a merger with Luxembourg-based steel giants Arcelor. It would have made them the World's largest steel producers. However the deal was scuppered at the last minute by British-owned Mittal who have now entered into an agreement with Arcelor.
But what was not revealed was that Severstal's controller, Russian billionaire Alexey Mordashov - and more that 150 of his most senior directors - have all enjoyed an extensive business education at Northumbria University's Newcastle Business School.
Mordashov, the powerful tycoon behind Severstal was so impressed with what he learned when he studied for his MBA at Newcastle Business School, that he has since arranged for most his executives and directors to study the Corporate MBA course that he undertook five years ago.
Since then, a steady stream of executives from Severstal - which literally means Northern Steel - have been arriving in the North East to learn how Western business is done.
Dean of Newcastle Business School, which is part of Northumbria University, is Paul Croney. He has just returned from the graduation ceremony in Russia where many of the Severstal's executives were awarded their MBAs.
He said: "Mr Mordashov gained massive insight into the Western style of management thinking when he was with us. So much so that he thought it invaluable to send more than 150 of his senior executives, directors and managers on the similar courses.
Their business intentions are clearly to integrate more with western businesses and we would like to think we have played an important part in their knowledge of western business practices."
Mr Mordashov's relationship with Newcastle Business School started more than five years ago when he and four colleagues arrived to undertake the MBA.
Since then most of Severstal's senior executives have arrived in the North East to undertake similar business courses. The relationship was struck through the partnership Newcastle Business School enjoys with Moscow's State University of Management.
Paul Croney added: "It is always satisfying to read news of major business discussions - whether successful or not - in the knowledge that many of the key decision makers behind these business agreements have studied and learned some of their skills right here at the Newcastle Business School.
I'm proud to say that we have some of the best business minds passing on business-relevant expertise and skills to our students, who come from high profile companies, not just here in the UK, but from all over the world. We should be very proud that Northumbria University is helping to shape the future business landscape on a global scale."
Partnerships such as the Severstal relationship has helped Northumbria University's Newcastle Business School become known as one of the best international schools.
Andrew Robson, Severstal programme director (left), with Programme Leader, Eustathios Sainidis (right) along with Severstal MBA students Eugene Vasilyev and Olga Salynskaja (Middle).
Press Coverage relating to Alexy Mordashov
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Date Posted: 24.7.06