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Oleg SalminOwner of the company "Steltex"
Country:
 Ukraine |
Content:
- Biography of Oleg Salmin
- Early Life and Education
- Entrepreneurial Journey
- A Journey into Business
- Joining Renaissance Capital and Ukrnafta
- Political Involvement and Steltex Investments
Biography of Oleg Salmin
Oleg Salmin, the owner of the company "Steltex," is a guarantor of success for journalists. With him, you will never get bored. The media learned about his latest appointment through a company announcement published on the London Stock Exchange website. The rapid speed at which the company's executive director, Lev Partskhaladze, became non-executive drew the attention of shareholders from many countries.
Early Life and Education
Oleg Salmin was born in Zaporizhzhia, Ukraine, and grew up without a father. His mother was disabled, and they lived modestly. After completing the fourth grade in a regular school, Oleg transferred to a boarding school at his mother's request. It was here that he first felt that he had a unique chance to change his life by presenting himself in a new light within a different community. One of the first things he did was move from the back row to the front row in the classroom, which caught the attention of his teachers. Oleg realized that his life was starting to improve and that fate was turning in his favor. He made friends with other teenagers who were trying to make their first steps in business.
Entrepreneurial Journey
Salmin and his friends formed a team and started collecting sugar beet on a collective farm field from five in the morning until late at night. They sold the sugar beet to the collective farm and received sunflower seeds in return. They then had the idea to hire a truck, load it with sunflower seeds, and sell them to a consumer cooperative in Saint Petersburg. The idea seemed crazy at first, but they managed to make it happen, even sleeping in the truck for two days. They found the store and sold the sunflower seeds. Their next thought was, "Why should we return with this money when we can buy goods at the port and bring them to Zaporizhzhia?" So they did. At fifteen years old, Oleg earned one and a half thousand rubles in a season, while his mother only earned a hundred rubles. He realized that life was beautiful and noticed that as soon as he had a clear direction, people who shared the same goals appeared around him.
After finishing school, Oleg joined the military, where he hoped for a chance that would be more beneficial than going to Afghanistan or serving on a submarine. His wish came true when he was offered a position as a reserve aviation pilot in case of military conflict. He accepted the offer and went through a rigorous selection process. Out of five hundred candidates, only one hundred and fifty were selected, and Oleg was among them. He completed two years of service, accumulating 150 hours of flight time and making ten parachute jumps. During this time, his passion for aviation grew, and he decided to pursue a career in the civil aviation industry. However, his dream was cut short when the Soviet Union dissolved, and funding for the aviation faculty ceased.
A Journey into Business
Not wanting to return to Zaporizhzhia from Kyiv, Oleg and his friends started exploring what was happening around them and noticed the rise of cooperatives. They didn't know much, but they were young and eager to learn. They transferred to the economics faculty from the aviation institute and started working as simple brokers on the first commodity exchange. Oleg realized that education was another crucial factor in being in the right place at the right time and meeting the demands of the market while facing adversity without losing one's integrity. He had to study in four universities because fate forced him to adapt to circumstances he couldn't change. He followed his intuition and enrolled in the Banking Institute, which gave him a complete understanding of the banking industry. At this point, he was already earning money from commodity and stock exchanges. The voucher privatization program provided another opportunity, and Oleg "entered" it as a prepared specialist. They opened several companies, actively participated in privatization, and began buying vouchers and selling stocks. By the end of privatization, they were among the top three companies in the stock market. Oleg realized that the food and energy industries were very promising for investment. He encountered the company "Ukrnafta," as they bought a 10% stake, which was enough for him to join the company's supervisory board and gain access to internal information. As the head of a large company, he quickly realized that he lacked knowledge of jurisprudence. He didn't want to depend on lawyers who could fall ill, go on vacation, or be absent due to court hearings. So he enrolled in a law faculty while working full-time as a corporate executive. It was a challenging period in his life because the professors demanded full commitment from the students, and their qualifications affected people's lives.
Joining Renaissance Capital and Ukrnafta
When Renaissance Capital decided to enter the Ukrainian market, they needed managers who would undergo training in Moscow and then return to Kyiv. Oleg received an offer and accepted it without any regrets. He spent a year and a half working in various positions at Renaissance Capital, gaining experience in restructuring oil companies and participating in mergers and acquisitions. He worked with prominent figures such as Steve Jennings, Mikhail Prokhorov, and Lev Jorbenadze. After returning to Kyiv, he received an invitation from Igor Bakay, whom then-President Leonid Kuchma tasked with creating the state-owned company "Naftogaz Ukraine" from the entire gas industry. Bakay invited Oleg to attract external capital. Oleg found it interesting because Ukraine was relatively unaffected by the crisis and attracted Western investors. He suggested including the oil industry in the project, and it was accepted. "Ukrnafta" became part of "Naftogaz Ukraine." Oleg took on the role of CEO and faced numerous challenges, including a significant debt with the government exceeding $100 million. However, through strategic decisions and reforms, he managed to revive the company. Under his leadership, "Ukrnafta" paid off all its debts, and its taxes accounted for 15% of the country's budget.
Political Involvement and Steltex Investments
After leaving "Ukrnafta," Oleg ventured into politics and became a member of the Ukrainian Parliament. However, he realized that politics was not his calling and decided to focus on his entrepreneurial endeavors. He founded his own company, Steltex Investments, and invested in various projects, including multi-functional complexes, residential complexes, and small shopping centers. Despite facing the challenges of the economic crisis, Oleg's projects managed to survive and thrive. In 2020, he was invited back to "XXI vek" (XXI Century) after the company underwent restructuring. Oleg's reputation and expertise played a significant role in the negotiations with bond funds, leading to a successful outcome for the company.
In summary, Oleg Salmin's journey has been characterized by intuition, adaptability, and a relentless pursuit of success. From his humble beginnings in Zaporizhzhia to becoming a prominent figure in the business world, he has demonstrated his ability to overcome obstacles and thrive in challenging environments. With his leadership and entrepreneurial skills, he continues to make a significant impact in the industry and contribute to the development of Ukraine's economy.
