Philippe Darmayan who has been Chief Executive Officer of Aperam since December 2011, has indicated to the Board of Directors his intention to retire effective 31 December 2014. The Board of Directors has accepted Philippe Darmayan`s request and announced the appointment of Timoteo Di Maulo, currently member of Aperam`s Management Committee, as Chief Executive Officer from 1 January 2015. Until that time, Philippe Darmayan and Timoteo Di Maulo will work closely to ensure a smooth transition.

Philippe Darmayan will retain links with the company as advisor and will be proposed to become a member of Aperam`s Board of Directors at the company's next general shareholders` meeting. Timoteo Di Maulo, aged 55, currently holds the position of Chief Commercial and Sourcing Officer and is a member of the Management Committee of Aperam. He is also responsible of the Services and Solutions Division and of Research & Development.

He has 25 years of experience in the stainless steel industry, having held a number of positions in the controlling, purchasing, logistics and commercial areas and has been CEO of different units of the company.