Magnit announces results of Board meeting
Krasnodar, Russia (July 19, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the results of the Board of Directors meeting held on July 18, 2021.
The Company continues to strengthen its Management Board aiming at more efficient decision-making. The Board has determined that the Management Board will consist of 13 members, effective July 22, 2021.
The following new members have been elected to the Management Board with effect from July 22, 2021:
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Member of the Management Board
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Share in charter capital (stake of ordinary shares owned by the member)
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Pavel Lokshin
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0%
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Fyodor Pavlovsky
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0%
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Andrey Lukashevich
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0%
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The board has decided to terminate the powers of Florian Jansen, a member of the Management Board of PJSC Magnit, pursuant to the agreement to terminate his employment contract.
Please follow the links below to view full results of the Board meeting:
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Note to editors
Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2021, Magnit operated 39 distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) in 3,770 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 billion. Magnit's local shares are traded on the Moscow 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.
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