29th Jul 2016 10:30
PJSC MAGNIT - Magnit Announces Management AppointmentsPJSC MAGNIT - Magnit Announces Management Appointments
PR Newswire
London, July 29
Press Release
Krasnodar
July 29, 2016
PJSC “Magnit” Announces Management Appointments
Krasnodar, July 29, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, “Issuer”; MOEX and LSE: MGNT), announces management appointments in the company[1].
Please be informed that Mr. Evgeniy Nekrasov, who previously ran the Logistics Department, has been appointed as Deputy CEO for Logistics.
Moreover, the position of "Deputy CEO for Sales Technological Support" has been integrated into the company’s organizational structure. Mr. Denis Fedotov, who previously was Head of Finance Department, has been appointed as Deputy CEO for Sales Technological Support. Now the company’s pricing and goods movement functions report to Mr. Fedotov.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
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 June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets, and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 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.
[1] JSC “Tander” – main operating company of PJSC “Magnit” group of companies
Related Shares:
MGNT.L