Dmitry Konov
Dmitry Vladimirovich Konov | |
|---|---|
| Born | September 2, 1970 Moscow, Russia |
| Occupation | Corporate leader |
| Years active | 1994–2022 |
| Known for | Head of Sibur (2006–2022) |
Dmitry Vladimirovich Konov (born 2 September 1970 in Moscow) is a Russian corporate leader who served as the head of Sibur, the largest integrated petrochemical enterprise in Russia, from 2006 until 2022.
Biography
Konov was born in Moscow to a father who worked as a geodesist mapper with a broad range of travel experience, and a mother employed at the Russian Academy of Sciences. He attended a school specializing in English and graduated from the MGIMO. In 1988, he was drafted into the Soviet Army, where he held the rank of sergeant and was stationed in Baku during a period of military unrest.
His professional path began in trading roles at MFK Bank (1994–1997) and Renaissance Capital (1997–1998), followed by a position within the Treasury Department at Yukos (1998–2000). In 2001, he completed an MBA program at IMD Business School in Switzerland. That same year, he took on the roles of Vice President and Head of Investment Banking, as well as Managing Director of Corporate Finance at Trust and Investment Bank (which later became Trust Bank).
SIBUR
Konov joined the Sibur petrochemical group in 2004 as an advisor to its president, Alexander Dyukov. At that time, SIBUR faced significant challenges, but Konov identified promising growth opportunities and accepted the advisory position.
During his tenure at SIBUR, he occupied several senior roles including Vice President for Strategic Development and Analysis, Corporate Policy and Strategy, and Senior Vice President for Business Development overseeing Plastics and Organic Synthesis. He orchestrated the restructuring of $2.5 billion in corporate debt owed to Gazprom, converting this debt into equity held by former creditors. This restructuring allowed reinvestment into working capital and led to a revamped corporate structure that was presented to Gazprom's board in 2005. Konov earned recognition as one of the principal architects behind the company’s transformation.
Following Dyukov’s exit, Konov was endorsed and appointed as SIBUR’s president in 2006.
President
In 2008, Konov alongside four deputies proposed a management buyout (MBO) of SIBUR from Gazprombank valued at RUB 53.5 billion—the largest MBO ever attempted in Russia—however, this initiative was suspended due to the 2008 financial crisis. The company was ultimately acquired by Leonid Mikhelson in 2011.
When Konov assumed leadership, SIBUR operated several outdated Soviet-era plants producing low-margin chemical products derived from oil and gas by-products. He redirected the company’s strategy toward high-value petrochemical segments, particularly plastics targeting international markets. Between 2015 and 2016, SIBUR opened its capital to foreign investors by divesting 10% stakes to China's Sinopec and the Silk Road Fund.
From 2012 through 2014, SIBUR completed substantial investments including construction of a pipeline from the Yamal-Nenets region to Tobolsk; establishment of Russia’s largest polymer production facilities in the Nizhny Novgorod area; development of plants in Tobolsk, Bashkortostan, and Voronezh; as well as creation of an LPG transshipment terminal within the Ust-Luga logistics hub.
By 2015, SIBUR topped Forbes's rankings for Russian manufacturers leading import substitution; by 2019, it had markedly decreased reliance on imports for domestic consumption of polypropylene, PVC, PET, and polystyrene.
The company placed strong emphasis on maintaining and upgrading its fixed assets throughout this period.
By 2016, SIBUR’s market valuation had surged to $13.8 billion from nearly zero in 2003.
Chairman of the Management Board
Beginning in 2018, Konov assumed the role of Chairman of SIBUR's management board, dedicating his efforts to key strategic areas such as digital innovation, advancing the circular economy, and expanding the company's global footprint.
That same year, Konov collaborated with Reliance, a major Indian manufacturer, to launch a rubber production facility. This marked SIBUR's inaugural licensing of Russian intellectual property technologies within India.
Under his guidance, SIBUR progressed significantly in digital transformation by implementing virtual reality solutions for remote monitoring of production processes and industrial machinery. The Amur Gas Chemical Complex operates as a digitally managed plant featuring automated or remote-controlled operations, which has cut labor requirements by at least 50% compared to the Zapsibneftekhim facility. SIBUR was a pioneer worldwide in adopting digital simulation techniques in petrochemical manufacturing through a precision modeling project for its low-density polyethylene reactor.
Konov also steered SIBUR toward becoming an environmental frontrunner in Russia. In 2019, the company introduced one of the nation's earliest sustainable development strategies. From 2020 onward, it prioritized reducing carbon emissions and boosting recycled material usage, including producing eco-friendly PET granules derived from recycled food packaging. In 2021, SIBUR initiated a net-zero partnership platform alongside the World Economic Forum and other industry stakeholders to foster climate-related innovations. That year, Forbes recognized SIBUR among Russia’s top ten companies for environmental responsibility.
In March 2022, sanctions imposed by the EU and UK directly targeted Konov, leading to his resignation from the chairman position and other executive roles. By June 2022, he had submitted an appeal to the EU Court seeking removal from these sanction lists, with his legal representatives contending that the sanctions lacked both factual and legal justification.
Other projects
Konov holds trustee positions at MGIMO University, the Russian Basketball Federation, Saint Petersburg Graduate School of Management, and Russian State University of Oil and Gas. He formerly chaired the board of trustees at Tyumen State University.
He played a significant role in shaping Russia’s national safe chemical management framework, which underpins technical regulations. For this contribution, he received the Russian Government’s Science and Technology Award.
Wealth
In 2017, Forbes included Konov among Russia’s wealthiest individuals. Through SIBUR’s management incentive plan, he acquired a 4% ownership stake valued at approximately $535 million, ranking him 193rd on Forbes' list. Konov noted that his fortune was primarily connected to his shares in SIBUR, which he considered retained within the company structure. In 2018, he divested 0.25% of his holdings to fellow executives. By 2022, he had sold all remaining shares and relinquished his status as a minority shareholder.
His personal assets include a residence located in Cannes and an apartment within Moscow’s Noble Row complex.
Personal life
Konov met model Katarina Konks (born 1982) in 2011; they married five years later in 2016 and have one son.
A lifelong basketball aficionado, Konov supports the Russian club CSKA and previously played for MGIMO’s student basketball team. At SIBUR, he founded a corporate basketball league aimed at promoting employee participation and fostering sports development within the company.