Press Release
Krasnodar
January 11, 2016
PJSC "Magnit" Announces the Changes in the Company Management
Krasnodar, January 11, 2016: PJSC "Magnit", Russia's largest food retailer (the
"Company"; MOEX and LSE: MGNT) announces the following changes in the Company
management:
Vladimir Gordeychuk has resigned from the position of General Director for JSC
Tander (a wholly-owned subsidiary and the main operating company of PJSC
"Magnit"). Alexander Barsukov has been appointed the new General Director for
JSC Tander.
Alexander Kazakov has resigned from the position of Head of Development. Sergey
Rubtsov has been appointed the new Head of Development after working previously
as the Head of the Magnit Convenience Store format. Konstantin Ilyin has been
appointed the new Head of the Magnit Convenience Store format.
These changes are effective from January 11, 2016.
Sergey Galitskiy, the Chief Executive Officer (CEO) of PJSC "Magnit", provided
the following comments on the management changes:
"The General Director for JSC "Tander" has been changed. Alexander Barsukov has
been appointed to this position. First of all I would like to thank Vladimir
Gordeychuk, who has been working in the company almost since its foundation,
and I hope he will continue to work on the determination and implementation of
Magnit's development strategy for a long time.
There are also some structural changes in the Company's top management.
Alexander Kazakov has resigned from the position of the Head of Development and
will be nominated to the Magnit Board of Directors. Sergey Rubtsov, previously
the Head of the Magnit Convenience Store format, will take over this position.
Konstantin Ilyin has been appointed the new Head of the Magnit Convenience
Store format.
I hope that these changes will allow us to improve the operational efficiency
of our team."
For further information, please contact:
Timothy Post Head of Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Investor Relations Office MagnitIR@magnit.ru
Direct Line: +7-861-277-4562
Website: ir.magnit.com/
Media Inquiries Media Relations Department
press@magnit.ru
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of December 31,
2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594
convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and
towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H
2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion.
Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and
its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating
from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one
of the largest retailers in Europe.