"By 2007, 10 years after Mr. Rashnikov became director, MMK doubled steel production from 6m to 12m tonnes a year."
In 1974, Rashnikov achieved his first degree having studied the field of Metal Forming Process in Magnitogorsk Institute of Mining and Metallurgy. He later gained another degree in Organization of Production Administration, graduating from that program in 1994.
Rashnikov received his doctorate in Technical Sciences in 1998. In addition to writing many research papers and scientific reports, he has implemented numerous engineering solutions.
In 2002 he was elected to the position of Honored Professor at the Moscow Institute of Steel and Alloys. Additionally, he holds a role at the Russian Academy of Quality Problems as an Academician.
In 2005, Rashnikov left the position of CEO, but remains the chairman of the company.
With the support of Rashnikov and MMK, in 2006 on the bank of the Ural River a modern ice palace with a capacity of more than 7,500 people was built (the Investments amounted to $50 million). The Arena Metallurg stadium is the base of the Metallurg ice hockey club, as well as the junior ice hockey team Stalnye Lisy (Steel Foxes).
- Rashnikov helped to fund the Holy Ascension Cathedral in Magnitogorsk – the main cathedral of the Magnitogorsk diocese, located in the city of Magnitogorsk.
The company in 2016 produced 70% of metal requirements at AvtoVAZ, 50% at GAZ and 50% at KAMAZ. The company fully met Russian Ford’s metal requirements.
Having worked his way up through various positions at MMK, Viktor Rashnikov was able in the 90-s to attain near complete control of the company through the purchase of shares on the market (87.26% as of May 2017).