Dmitry Konov
{{Short description|Russian business executive (born 1970)}}
{{Use dmy dates|date=January 2024}}
{{Infobox person
| name = Dmitry Konov
|native_name = {{lang|ru|Дми́трий Влади́мирович Ко́нов}}
| image = Dmitry Konov.jpg
| alt =
| caption =
| birth_name =
| birth_date = {{Birth year and age|1970}}
| birth_place = Moscow, Russian SFSR, Soviet Union
|alma_mater = Moscow State Institute of International Relations (MGIMO)
| death_date =
| death_place =
| nationality = Russian
| other_names =
| occupation = business executive
| years_active =
| known_for = former head of Sibur
| notable_works =
}}
Dmitry Vladimirovich Konov (b. 2 September 1970, Moscow) is a Russian business executive. He was the head of Sibur, Russia's largest integrated petrochemical company, from 2006 to 2022.
Biography
Dmitry Konov was born in Moscow. His father worked as a geodesist mapper, which involved extensive travel across Russia and contractual trips abroad. His mother was an expert at the {{ill|Joint Institute for High Temperatures|ru|Объединённый институт высоких температур РАН}} of the Russian Academy of Sciences.{{cite web
|url = https://tass.ru/business-officials/9338797
|title = Дмитрий Конов: буду работать, пока не выгонят
|author =
|language=ru
|date = 2 September 2020
|publisher = TASS
|accessdate = 13 July 2022}} Konov attended a school that placed a special emphasis on English language training. He later graduated from the Moscow State Institute of International Relations (MGIMO). In 1988, he was conscripted into the Soviet Army, where he achieved the rank of sergeant, and served in Baku during a period of military unrest in the country.
Konov worked as a trader at the MFK Bank (1994–1997){{cite web
|url = https://neftegaz.ru/persons/333279-konov-dmitriy/
|title = Конов Дмитрий Владимирович
|author =
|language=ru
|date =
|publisher = Neftegaz.ru
|accessdate = 13 July 2022}}{{cite web
|url = https://www.forbes.ru/biznes/414427-v-reyting-forbes-direktorov-kapitalistov-voshli-dva-novichka
|title = В рейтинг Forbes директоров-капиталистов вошли два новичка
|author = Анастасия Ляликова
|language=ru
|date = 26 November 2020
|work = Forbes.ru
|accessdate = 13 July 2022}} and at Renaissance Capital (1997–1998). He later moved to the Treasury Department of the YUKOS Oil Company (1998–2000). In 2001, he received an МВА from IMD Business School in Switzerland. The same year, he became Vice President Head of the Investment Banking Department, and managing director of the Corporate Finance Division at Trust and Investment Bank (renamed Trust Bank since 2003).
SIBUR
In 2004, Konov joined the Sibur petrochemical holding as advisor to its president Alexander Dyukov. According to Konov, the company was in bad shape at the time, but he saw that it offered significant potential for growth and accepted the job offer.{{cite web
|url = https://www.forbes.ru/biznes/346357-himiya-i-zhizn-dmitriy-konov-voshel-v-spisok-forbes-posle-10-let-rukovodstva-siburom
|title = Химия и жизнь: Дмитрий Конов вошел в список Forbes после 10 лет руководства "Сибуром"
|author = Ирина Казьмина
|language=ru
|date = 5 July 2017
|work = Forbes.ru
|accessdate = 13 July 2022}}
Konov held various positions at SIBUR, including Vice President for Strategic Development and Analysis, Vice President for Corporate Policy and Strategy, Senior Vice President for Corporate Policy and Strategy, and Senior Vice President for Business Development – Head of the Plastics and Organic Synthesis Division. He was tasked with leading the restructuring of the company's assets and debt at a time when SIBUR owed $2.5 billion in corporate debt to Gazprom.{{cite web
|url = https://kam.business-gazeta.ru/article/508265
|title = "Золотой" директор, выпускник МГИМО, выходец из ЮКОСа: who is новый правитель нефтехимии Татарстана?
|author = Диана Авакян
|language=ru
|date = 6 May 2021
|publisher = Business-gazeta.ru
|accessdate = 13 July 2022}} In less than a year, cross ownership was renounced and agreements with creditors were made, at which point Konov de facto took charge. He converted the company's debt into shares owned by former creditors, enabling the working capital to be invested rather than paid out. Konov had a hand in SIBUR's development strategy as presented to Gazprom's board of directors in 2005, which shaped the new structure of the company. Konov was later known as one of the 'architects' of the holding company.{{cite web
|url = https://www.forbes.ru/sobytiya/kompanii/76792-kak-sibur-sovershil-puteshestvie-iz-chastnoi-sobstvennosti-v-gosudarstvennuy
|title = "Сибур": путешествие из частной собственности в государственную и обратно
|author = Ирина Малкова
|language=ru
|date = 24 November 2011
|work = Forbes.ru
Upon his departure from the company, Alexander Dyukov recommended Konov for appointment as president. Konov became the president of SIBUR in 2006.
=President=
In the spring of 2008, Konov and four of his deputies made an offer to SIBUR's owner Gazprombank regarding a company buyout. The transaction was estimated at some RUB 53.5 billion, which would have made it the biggest MBO in Russian history. However, due to the breakout of the global financial crisis, the sale did not take place. In 2011, the company was sold to Leonid Mikhelson.{{cite web
|url = https://roscongress.org/speakers/konov-dmitriy/biography/
|title = Дмитрий Конов
|author =
|language=ru
|date =
|publisher = Roscongress.org
|accessdate = 13 July 2022}}
When Konov joined SIBUR, the company consisted of several dozen Soviet-era factories processing oil and gas by-products into various low-margin chemical products.{{cite web
|url = https://intellinews.com/profile-dmitry-konov-the-russian-executive-appealing-against-sanctions-246425/
|title = PROFILE: Dmitry Konov, the Russian executive appealing against sanctions
|author =
|date = 3 June 2022
|publisher = Intellinews
|accessdate = 13 July 2022}}
Konov led a change in strategy to reposition SIBUR as a petrochemicals company specializing in high-margin plastics production for the global market.{{cite web
|url = https://www.ft.com/content/f8ec06d6-a7c9-11e8-926a-7342fe5e173f
|title = Sibur's Dmitry Konov: betting on expansion
|author = Henry Foy
|date = 23 September 2018
|publisher = Financial Times
|accessdate = 13 July 2022}} In 2015–2016, SIBUR opened up to international investors by selling a 10% stake to China's Sinopec. China's Silk Road Fund bought another 10% stake in the company.{{cite web
|url = https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/petrochemicals/121416-chinas-silk-road-fund-set-to-take-10-stake-in-russias-sibur-petrochemical-company
|title = China's Silk Road Fund set to take 10% stake in Russia's Sibur petrochemical company
|author =
|date = 14 December 2016
|publisher = Spglobal.com
|accessdate = 13 July 2022}}{{cite web
|url = https://www.business-gazeta.ru/article/507265
|title = Who is СИБУР: что известно о компании, съевшей ТАИФ?
|author = Елена Иванова
|language=ru
|date = 26 April 2021
|publisher = Business-gazeta.ru
|accessdate = 13 July 2022}}
Between 2012 and 2014, SIBUR completed a number of large-scale investment projects: a pipeline from the Yamal-Nenets Autonomous Area to Tobolsk,{{cite web
|url = https://tobolsk.ru/news/130/23484/
|title = СИБУР запустил в Тобольске магистральный продуктопровод, соединяющий Тюменскую область, Югру и Ямал: подробности
|author =
|language=ru
|date = 17 April 2014
|publisher = Tobolsk.ru
|accessdate = 13 July 2022}} the construction of Russia's largest polymer facilities in the Nizhny Novgorod Region,{{cite web
|url=http://expert.ru/expert/2014/40/polimernyij-proryiv/
|title=Полимерный прорыв
|author=Сергей Кудияров
|language=ru
|date=29 September 2014
|publisher=Expert.ru
|accessdate=13 July 2022}}{{cite web
|url=http://birzha.ru/newspapers/birzha/novosti/21678/
|title="РусВинил" открыт
|author=
|language=ru
|date=23 September 2014
|publisher=Birzha.ru
|archiveurl=https://web.archive.org/web/20141012233854/http://birzha.ru/newspapers/birzha/novosti/21678/
|archivedate=12 October 2014
|accessdate= 13 July 2022
|url-status=dead}}{{Cite web
|url=https://neftegaz.ru/news/companies/235308-sibur-zakonchil-proekt-rekonstruktsii-sibur-neftekhima/
|title=СИБУР закончил проект реконструкции СИБУР-Нефтехима
|language=ru
|publisher=neftegaz.ru
|date=19 December 2014
|access-date= 13 July 2022
|url = https://oilcapital.ru/news/companies/15-10-2013/prezident-putin-zapustil-kompleks-tobolsk-polimer-sibura
|title = Президент Путин запустил комплекс "Тобольск-Полимер" "СИБУРа"
|author = Елена Иванова
|language=ru
|date = 15 October 2013
|publisher = Oilcapital.ru
|accessdate = 13 July 2022}} Bashkiria{{cite web
|url = https://www.mrc.ru/news/282387-polief-prakticheski-zavershil-rasshirenie-moschnostey-po-pet
|title = Полиэф практически завершил расширение мощностей по ПЭТ
|author = Анна Ларионова
|language=ru
|date = 21 March 2014
|publisher = Mrc.ru
|accessdate = 13 July 2022}} and Voronezh,{{cite web
|url = https://ria.ru/20130523/939097479.html
|title = Путин дал старт производству в Воронеже полимерных дорожных материалов
|author =
|language=ru
|date = 23 May 2013
|publisher = Ria.ru
|accessdate = 13 July 2022}} and an LPG transshipment terminal in Ust-Luga.
By 2015, SIBUR was at the top of Forbes's list of Russian producers by import substitution;{{cite web
|url = https://www.forbes.ru/svoi-biznes-photogallery/istorii-uspekha/287879-zapadozamestiteli-kto-vstaet-na-mesto-inostrannykh-k
|title = Западозаместители: кто встает на место иностранных компаний
|author =
|language=ru
|date = 12 May 2015
|work = Forbes.ru
|accessdate = 13 July 2022}} by 2019, the company significantly reduced the share of imports in the domestic consumption of polypropylene, PVC, PET and polystyrene.{{cite web
|url = https://www.kommersant.ru/doc/4078891
|title = Родные пластики
|author = Ольга Мордюшенко
|language=ru
|date = 11 July 2019
|publisher = Kommersant.ru
|accessdate = 13 July 2022}}
SIBUR invested heavily into current repairs and maintenance of the facilities' fixed assets.
By 2016, the company's value stood at $13.8 billion compared to zero in 2003.
=Chairman of the Management Board=
From 2018, Konov served as Chairman of SIBUR's management board, focusing on the company's strategic tasks: digitalisation, circular economy development and business globalization.
In 2018, together with Reliance (one of India's largest local manufacturers), Konov initiated the construction of a rubber production plant. Notably, this was the first time the SIBUR company licensed Russian intellectual technologies in India.{{cite web
|url = https://corp.wtcmoscow.ru/services/international-partnership/analitycs/rossiya-i-strany-briks-itogi-2020/
|title = Россия и страны БРИКС: итоги 2020
|author =
|language=ru
|date = 29 April 2021
|publisher = WTCMoscow
|accessdate = 13 July 2022}}{{cite web
|url = https://www.mrchub.com/news/358490-sibur-and-reliance-launched-butyl-rubber-production-in-jamnagar
|title = Sibur and Reliance launched butyl rubber production in Jamnagar
|author = Anna Larionova
|date = 11 September 2019
|publisher = Mrchub.com
|accessdate = 13 July 2022}}
Under Konov's management, SIBUR entered a period of active digital transformation: VR technologies began to be deployed enabling distant control over production processes and the operation of industrial equipment.{{cite news
|url = https://www.vedomosti.ru/technology/articles/2021/06/20/874848-holding-sibur
|title = Холдинг "Сибур" выходит на IТ-рынок с системой дополненной реальности
|author = Татьяна Исакова
|newspaper = Ведомости
|language=ru
|date = 21 June 2021
|publisher = Vedomosti
|accessdate = 13 July 2022}} The Amur GCC is a digital facility with automated control or remote maintenance of most processes. This setup could reduce the number of employees by at least half in comparison to Zapsibneftekhim.{{cite news
|url = https://www.vedomosti.ru/business/characters/2018/11/27/787688-predsedatel-pravleniya-sibur
|title = Председатель правления "Сибур холдинга": "Справедливую оценку "Сибуру" пусть дает рынок"
|author = Артур Топорков, Екатерина Дербилова
|newspaper = Ведомости
|language=ru
|date = 28 November 2018
|publisher = Vedomosti
|accessdate = 13 July 2022}}{{cite web
|url = https://www.amur.info/news/2019/05/07/153748
|title = Амурский ГХК эксперты смогут обслуживать удаленно
|author =
|language=ru
|date = 7 May 2019
|publisher = Amur.info
|accessdate = 13 July 2022}} SIBUR was among the first companies, both globally and in Russia, to integrate a digital modeling system into petrochemical production by launching a high-precision project for modeling physical and chemical processes inside its low-density polyethylene reactor.{{cite web
|url = https://www.cnews.ru/news/top/2020-11-05_sibur_vnedril_tsifrovoe
|title = "Сибур" одним из первых в мире внедрил систему цифрового моделирования в нефтехимическое производство
|author = Владимир Бахур
|language=ru
|date = 5 November 2020
|publisher = Сnews.ru
|accessdate = 13 July 2022}}
As part of SIBUR's management team, Konov also transformed the company into an environmental leader in its industry and home country. In 2019, SIBUR became one of the first Russian companies to adopt a sustainable development strategy.{{cite web
|url = https://bne.eu/comment-sanctions-are-working-but-the-west-risks-isolating-russian-reformers-instead-of-galvanising-them-244735/
|title = COMMENT: Sanctions are working, but the West risks isolating Russian reformers instead of galvanising them
|author =
|date = 18 May 2022
|publisher = Intellinews
|accessdate = 13 July 2022}} Since 2020, it has focused on reducing carbon emissions and using recycled materials, including developing production of 'green' PET granules from recycled food packaging.{{cite web
|url = https://www.sustainableplastics.com/news/sibur-launch-production-green-pet
|title = Sibur to launch production of 'green' PET
|author = Karen Laird
|date = 4 September 2020
|publisher = Sustainableplastics.com
|accessdate = 13 July 2022}}
|url = https://www.bloomberg.com/news/articles/2021-05-28/sibur-plans-to-use-russia-s-forests-to-offset-carbon-from-2024?sref=YETcWitN
|title = Sibur Plans to Use Russia's Forests to Offset Carbon From 2024
|author = Dina Khrennikova
|date = 28 May 2021
|publisher = Bloomberg
|accessdate = 13 July 2022}} In 2021, Sibur launched a net-zero collaboration platform with the WEF and global industry players to promote solutions to climate change.{{cite web
|url = https://bne.eu/russian-petrochemical-giant-sibur-launches-net-zero-collaboration-platform-224197/
|title = Russian petrochemical giant Sibur launches net-zero collaboration platform
|author =
|date = 19 October 2021
|publisher = Intellinews
|accessdate = 13 July 2022}} Forbes ranked Sibur among the top-10 environmentally friendly companies in Russia in 2021.{{cite web
|url = https://neweconomy.site/forbes-launches-eco-rating-of-russian-companies/
|title = Forbes Launches Eco-Rating of Russian Companies
|author =
|date = 26 February 2021
|publisher = Neweconomy.site
|accessdate = 13 July 2022}}
In March 2022, the EU and the UK imposed sanctions directly against Konov.{{cite web
|url = https://www.ft.com/content/b45ec05a-7f2b-491f-806e-4e5c0082cdb6
|title = EU adds 14 more Russian business chiefs to its sanctions list
|author =
|date = 9 March 2022
|publisher = Financial Times
|accessdate = 13 July 2022}} As a result, he decided to step down as chairman of the management board and left other management bodies of the company.{{cite web
|url = https://www.rbc.ru/business/16/03/2022/6231cd669a7947625b8a5448
|title = Конов уйдет с поста председателя правления "Сибура" из-за санкций
|author = Тимофей Дзядко, Денис Ворошилов
|language=ru
|date = 16 March 2022
|publisher = Rbc.ru
|accessdate = 13 July 2022}}
In June 2022, Konov filed an appeal with the EU Court to be removed from the sanction lists, his lawyers arguing that "there is no factual or legal basis" for the sanctions.{{cite web
|url = https://www.forbes.com/sites/kenrapoza/2022/05/23/latest-eu-sanctions-target-different-set-of-russias-business-elite/
|title = Latest EU Sanctions Target Different Set Of Russia's Business Elite
|author = Kenneth Rapoza
|date = 23 May 2022
|work = Forbes.com
|accessdate = 13 July 2022}}{{cite web
|url = https://www.bloomberg.com/news/articles/2022-06-08/russians-flock-to-eu-court-in-long-shot-bids-to-topple-sanctions
|title = Russians Flock to EU Court in Long-Shot Bids to Topple Sanctions
|author = Stephanie Bodoni
|date = 2 June 2022
|publisher = Bloomberg
|accessdate = 13 July 2022}}{{cite web
|url = https://www.rbc.ru/business/03/06/2022/6299c55e9a79470bc45e1ebf
|title = Экс-глава "Сибура" оспорил персональные санкции ЕС
|author =
|language=ru
|date = 2 June 2022
|publisher = Rbc.ru
|accessdate = 13 July 2022}}
=Other projects=
Konov is a member of the boards of trustees at MGIMO University, the Russian Basketball Federation, Saint Petersburg Graduate School of Management and Russian State University of Oil and Gas.{{cite web
|url = https://www.sibur.ru/ru/about/corporate/directors/
|title = Совет директоров
|author =
|language=ru
|date = 2022
|publisher = Sibur.ru
|accessdate = 13 July 2022}} Prior to that, he headed the board of trustees at Tyumen State University.{{cite web
|url = https://news.utmn.ru/news/popechitelskiy-sovet/122688/
|title = Генеральный директор СИБУР Дмитрий Конов возглавит Попечительский совет ТюмГУ
|author =
|language=ru
|date = 3 February 2016
|publisher = News.utmn.ru
|accessdate = 13 July 2022}}
He took part in the development of Russia's national framework for safe chemical management, which set the basis for technical and other regulations. For his contributions, he received the {{ill|Russian Government's Science and Technology Award|ru|Премия Правительства Российской Федерации в области науки и техники}}.{{cite web
|url = https://www.angi.ru/news/2771977-%D0%9F%D1%80%D0%B5%D0%B7%D0%B8%D0%B4%D0%B5%D0%BD%D1%82%20%D0%A1%D0%98%D0%91%D0%A3%D0%A0%D0%B0%20%D0%94%D0%BC%D0%B8%D1%82%D1%80%D0%B8%D0%B9%20%D0%9A%D0%BE%D0%BD%D0%BE%D0%B2%20%20%D0%BF%D0%BE%D0%BB%D1%83%D1%87%D0%B8%D0%BB%20%D0%BF%D1%80%D0%B0%D0%B2%D0%B8%D1%82%D0%B5%D0%BB%D1%8C%D1%81%D1%82%D0%B2%D0%B5%D0%BD%D0%BD%D1%83%D1%8E%20%D0%BF%D1%80%D0%B5%D0%BC%D0%B8%D1%8E/
|title = Президент СИБУРа Дмитрий Конов получил правительственную премию
|author =
|language=ru
|date = 11 March 2011
|publisher = Angi.ru
|accessdate = 13 July 2022}}
Wealth
In 2017, Forbes listed Konov among the wealthiest people in Russia. Under SIBUR's management incentive programme, he acquired a 4% stake in the company worth $535 million,{{cite web
|url = https://www.forbes.ru/milliardery/332667-kak-popast-iz-menedzherov-v-spisok-forbes
|title = Как попасть из менеджеров в список Forbes
|author = Елена Березанская, Мария Тодорова
|language=ru
|date = 11 November 2016
|work = Forbes.ru
|accessdate = 13 July 2022}} making it to No. 193 in the Forbes list.{{cite web
|url = https://www.forbes.ru/profile/342803-dmitriy-konov
|title = Дмитрий Конов
|author =
|language=ru
|date = 2020
|work = Forbes.ru
|accessdate = 13 July 2022}} Konov has noted that he owes most of his wealth to SIBUR's shares which are not actual money: "They are preserved by SIBUR". In 2018, he sold 0.25% of his stake in SIBUR to the holding's other managers. In 2022, Dmitry Konov sold all his shares in Sibur and ceased to be a minority shareholder.{{Cite web |date=3 November 2022 |title=Конов продал свою долю в «Сибуре» |url=https://www.rbc.ru/business/03/11/2022/6363e4059a794748c14428ad |access-date=2023-07-19 |website=РБК |language=ru}}
In one of his interviews, Konov said that he owns a house in Cannes and an apartment in Moscow's Noble Row estate.{{cite web
|url = https://hrmonitor.ru/bio/dmitriy-konov.html
|title = История успеха Дмитрия Конова и его работа в компании "СИБУР"
|author =
|language=ru
|date = 2 November 2020
|publisher = hrmonitor.ru
|accessdate = 13 July 2022}}
Personal life
In 2011, Konov met the model Katarina Konks (born in 1982).{{cite web
|url = https://www.tatler.ru/heroes/istoriya-lyubvi-katarina-konks-i-dmitrij-konov
|title = История любви: Катарина Конкс и Дмитрий Конов
|author = Ксения Соловьёва
|language=ru
|date = 26 July 2016
|publisher = Tatler.ru
|accessdate = 13 July 2022}} They married in 2016{{cite web
|url = https://life.ru/p/403638
|title = Глава "Сибура" Дмитрий Конов сыграл свадьбу за 40 миллионов рублей
|author = Виктория Гончарова
|language=ru
|date = 26 April 2016
|publisher = Life.ru
|accessdate = 13 July 2022}} and now have a son.
Konov is keen on basketball and is a fan of the Russian team CSKA. A life-long basketball player, he took part in the Moscow student games as a member of the MGIMO team. While at SIBUR, Konov founded the company's corporate basketball league.{{cite web
|url = https://admtyumen.ru/ogv_ru/news/subj/more.htm?id=11411148@egNews
|title = СИБУР и NBA открыли в Тюмени площадку, реконструированную в рамках партнерства по развитию баскетбола в России
|author =
|language=ru
|date = 30 January 2017
|publisher = Admtyumen.ru
|accessdate = 13 July 2022}}