Press Release
Krasnodar
April 3, 2018
PJSC "Magnit" Announces the Board of Directors Candidate Profiles
Krasnodar, Russia (April 3, 2018): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT), announces the Board of Directors candidate profiles.
On April 19th, 2018 Magnit PJSC will hold an Extraordinary General Meeting (EGM) at which time a new Board of Directors will be chosen. In order that Magnit's shareholders can better make an informed decision, please find below detailed profiles of the twelve candidates for the Board.
Candidates for the Magnit Board of Directors
- Gregor Mowat
- Timothy Demchenko
- James Simmons
- Oleg Zherebtsov
- Evgeniy Kuznetsov
- Alexey Makhnev
- Paul Foley
- Khachatur Pombukhchan
- Alexander Prisyazhnyuk
- Ilya Sattarov
- Charles Ryan
- Alexander Shevchuk
Candidate: #01
Name: Gregor W. Mowat
DOB: 20 April 1972
Status: Independent Candidate
Nominated by: Sergey N. Galitskiy
Education:
1994 / Durham University (Bachelor of English Literature and Language)
1998 / The Institute of Chartered Accountants of Scotland (Member of the Institute of Chartered Accountants of Scotland)
Current Employment:
2016 - present / Co-founder and CFO, nooli group, including LOQBOX Savings Ltd and Credit Improver Ltd
Previous Employment:
2014 - 2016 / Founder and Chairman of the British Chamber of Commerce in Kazakhstan
2014 - 2015 / Member of Board of Partners, KPMG in the CIS
2013 - 2015 / Managing Partner, KPMG in Kazakhstan and Central Asia
2011 - 2015 / Partner, CFO and member of the Executive Committee, KPMG in the CIS
2008 - 2010 / Partner, KPMG in Kazakhstan and Central Asia
2006 - 2008 / Partner, KPMG in Korea
2003 - 2006 / Associate Director, Financial Services Audit - Partner, Transaction Services, KPMG in Thailand
2001 - 2003 / Relationship Manager, Multinational Division - Senior Manager, Corporate Marketing, HSBC Hong Kong
Board of Directors Experience:
2017 - present / Nordgold - Non-Executive Director and Chairman of the Audit Committee
2016 - present / nooli UK Ltd group - Member of Board of Directors of all companies
2014 - 2015 / British Chamber of Commerce in Kazakhstan - Chairman
2011 - 2016 / Member of the board of directors of more than 12 KPMG companies related to KPMG Russia and CIS in multiple countries
Biography:
Mr Mowat spent more than 20 years working in the audit and accounting profession, mainly with KPMG. With a principal focus on banking and financial services clients, he also covered other sectors including oil and gas and natural resources.
In 2011, Mr Mowat was appointed CFO of KPMG in Russia and CIS, a role he held until 2016 and which required him to take responsibility for all the support functions in a multi-jurisdictional professional services firm with 4,000 staff. In 2013, in addition to his CFO responsibilities, Mr Mowat was appointed Managing Partner of KPMG in Kazakhstan, growing the business significantly in a challenging economic environment.
After being part of the team that set up and implemented the corporate governance for KPMG in Russia and CIS, including being a founding member of the Board of Partners, in 2016, Mr Mowat joined his family in the UK where he co-founded LOQBOX, a FinTech that provides everyone with a completely free way to build a credit payment history and learn responsible financial management while they save. LOQBOX fixes financial exclusion for the large group of people globally who are locked out of the financial system either through no fault of their own or because they have made mistakes in the past.
Candidate: #02
Name: Timothy Demchenko
DOB: 13 September 1973
Status: Non-Independent Candidate
Nominated by: LLC "VTB Infrastructure Investments"
Education:
1999 / London Business School (Masters in Finance Degree)
2016 / Harvard Business School (Senior Executive Course)
Current Employment:
2008 - present / VTB Capital plc - Global Head of Private Equity and Special Situations
Board of Directors Experience:
2009 - 2014 / Lenta Ltd - Board Member and Chairman of the Board (2009-2010)
2010 - 2012 / St. Petersburg Airport Management - Board Member
2012 - 2013 / Luxoft - Board Member
2013 - 2015 / Brunswick Rail Limited - Board Member
2013 - 2016 / Russ Outdoor, LLC - Board Member
Biography:
Tim has over 20 years of private equity and corporate investment experience across multiple European markets and Russia. In 2008, Tim founded VTB Capital's Private Equity and Special Situations business. As the Head and Managing Director of the business Tim has developed investment strategy and built an international investment team based both in London and Moscow. The business has invested over US$2 billion of capital jointly with international co-investors, and achieved successful portfolio exits, including sales to strategic investors and IPO on the LSE and NYSE, with an average internal rate of return exceeding 40%.
Tim has lead VTB Capital private equity's investment in the Russian hypermarket chain Lenta and served as the Chairman of the Board from the initial investment until 2010 and as a member of the Board until Lenta's IPO on the LSE in 2014.
Prior to joining VTB Capital, Tim was responsible for the launch of Deutsche Bank's Private Equity business in Russia and CIS. Previously Mr. Demchenko worked for global multinational corporations (IBM and Siemens) as a senior executive based in London where he managed multiple large scale corporate investment projects. Prior to that, Tim served as an investment officer at TD Capital private equity based in London and focused on investments in the TMT sector across Europe and the US.
Candidate #3
Name: James P. Simmons
DOB: 7 April 1978
Status: Independent Candidate
Nominated by: LLC "VTB Infrastructure Investments"
Education:
2007 / Harvard Business School (MBA, Baker Scholar)
2000 / Princeton University (BSE, Computer Science, magna cum laude)
Current Employment:
2014 - present / Mazovia Capital - Partner
Previous Employment:
2012 - 2013 / Summa Group - Chief Investment Officer
2007 - 2011 / TPG Capital - Russia & CIS co-Head
Board of Directors Experience:
2016 - present / Digital Care Holdings - Chairman of the Board
2016 - present / NXT Ventures - Board Member
2015 - present / ClearCheck Global Holdings - Board Member
2015 - present / Mazovia Capital - Board Member
2014 - present / White Star 2 - Board Member
Biography:
Mr. Simmons began his career at Goldman Sachs in New York, working in the Investment Banking Division. In 2002, Mr. Simmons joined TPG Capital, a leading global private equity fund, in London. He participated in investments throughout Western Europe in the retail, telecom and industrial sectors. In 2007, Mr. Simmons moved to Moscow where he eventually became the co-head of TPG's Russia & CIS business. During his tenure, TPG invested in the financial services, retail and real estate sectors. From 2011-2013, Mr. Simmons served as Chief Investment Officer of Summa Group, a diversified private holding company with significant investments in port logistics, engineering, construction, telecommunications, and the oil and gas sector. In 2014, Mr. Simmons became a co-founding partner at Mazovia Capital, an investment firm focused on corporate and real estate private equity opportunities in Eastern Europe.
Candidate #4
Name: Oleg V. Zherebtsov
DOB: 21 May 1968
Status: Independent Candidate
Nominated by: The Genesis Emerging Markets Investment Company
The Genesis Group Trust for Employee Benefit Plans
The Russian Prosperity Fund
Prosperity Russia Domestic Fund Limited
Prosperity Capital Management SICAV
Education:
2008 / Babson College (Doctor of Humanities)
Current Employment:
2010 - present / Grotex LLC - Chief Executive Officer
Previous Employment:
1994-2003 / Lenta - Founder, CEO
Board of Directors Experience:
2004 - present / European University of St. Petersburg - Member of the Board of Regents
1994-2009 / Lenta - Chairman of the Board of Directors
Biography:
Mr. Oleg Zherebtsov founded Lenta LLC in 1993. Mr. Zherebtsov served as General Director of Lenta from 1994 to 2003. Mr. Zherebtsov served as Chairman and Director of Lenta LLC until October 2009. He has been a Member of the Russian Government's Council for Competition and Entrepreneurialship since 2004.
In 2005, he founded a chain of stores called Norma and sold his assets in the company in 2011. In 2010, Mr. Zherebtsov founded Solopharm, focused on production of high-tech innovative pharmaceutical products, the plant started operations in 2014.
Mr. Zherebtsov enjoys sailing and runs his own team. In 2008 he took part in the round-the-world regatta Volvo Ocean Race. He is the 2011 World Champion in the 12-meter class.
Candidate: #05
Name: Evgeny V. Kuznetsov
DOB: 26 August 1969
Status: Independent Candidate
Nominated by: The Genesis Emerging Markets Investment Company
The Genesis Group Trust for Employee Benefit Plans
The Russian Prosperity Fund
Prosperity Russia Domestic Fund Limited
Prosperity Capital Management SICAV
Education:
1991 / Barnaul Pedagogical Institute (Foreign Languages)
1996 / University of Oregon (MBA - Finance)
Current Employment: N/A
Previous Employment:
1996 - 2016 / Genesis Investment Management LLP - Partner, Portfolio Manager
Board of Directors Experience: N/A
Biography:
Mr. Evgeny Kuznetsov served as a Partner and Portfolio Manager at Genesis Investment Management, LLP.
Mr. Kuznetsov joined Genesis in 1996 as an investment analyst and over the following twenty years conducted research and made portfolio investments in various Emerging Markets, such as Russia, China, Turkey, Eastern Europe, South East Asia and Latin America. Prior to this, he trained as an investment analyst at Stewart Ivory. Mr. Kuznetsov studied International Finance at the University of Oregon, where he earned an M.B.A.
Candidate: #06
Name: Alexey P. Makhnev
DOB: 24 May 1976
Status: Non-Independent Candidate
Nominated by: LLC "VTB Infrastructure Investments"
Education:
1998 / St. Petersburg State University of Economics and Finance (Economics)
2001 / St. Petersburg State University of Economics and Finance (Ph.D Economics)
Current Employment:
2018 - Present / VTB Capital, Vice Chairman
2013 - Present / VTB Bank, Senior Vice President, Advisor to the First Deputy Chairman
Past Employment:
2009 - 2017 / VTB Capital, Investment Banking, Managing Director, Global Head of Consumer, Retail and Real Estate
2007 - 2009 / Morgan Stanley, Executive Director, Head of Consumer and Retail, Russia and CIS Investment Banking
2003 - 2007 / UFG - Deutsche Bank, Vice-President, Investment Banking
Board of Directors Experience:
2017 - present / Mvideo - Independent Board Member
2015 - present / LSR - Independent Board Member
2009 - 2015 / Magnit - Independent Board Member
Biography:
Mr. Makhnev has almost two decades of expertise and experience with the Russian consumer and retail sector. In 2006, Mr. Makhnev was a lead member of the investment banking team that took Magnit public. For six years Mr. Makhnev served on Magnit's Board of Directors and worked closely with Sergey Galitsky (Founder and former CEO).
Over the past 15 years, Mr. Makhnev has worked on a large number of consumer and retail transactions in Russia and the CIS. Almost all Russian listed companies are among Mr. Makhnev's clients including but not limited to Magnit, Lenta, Okey, Dixy, Mvideo, LSR, Etalon, PIK, Rusagro, and MD Medical.
Currently, Mr. Makhnev also serves as an Independent Board Member at two Russian consumer focused companies - Mvideo and LSR.
Candidate: #07
Name: Paul M. Foley
DOB: 24 July 1958
Status: Independent Candidate
Nominated by: Sergey N. Galitskiy
Current Employment:
2012 - present / Foley Retail Consulting - Founder, Managing Partner
Previous Employment:
1999 - 2009 / Aldi Süd (UK & Ireland) - Chief Executive Officer
Board of Directors Experience:
2017 - present / AHT Cooling Systems GmbH (Owned by Bridgepoint P.E.) - Supervisory Board Member (Independent)
2016 - present / Voli Trade D.O.O. (Supermarkets) - Independent Board Member of Voli Montenegro on behalf of major investor EBRD
2014 - present / BelWillesden/GIPPO Hypermarkets Belarus - Advisor to the Board and representative of the main shareholder Oleg Baranovsky
2014 - 2017 / INVERTO AG Consulting Germany (Business sold to BCG) - Advisor to the Board
2012 - 2014 / ICELAND Foods (Supermarkets) - Part Time Executive Director
2012 - 2013 / EKO Holdings S.A. Poland (Supermarkets Owned by Advent Int. P.E.) - Non-Executive Director
Biography:
Paul Foley is the Founder and Managing Partner of Foley Retail Consulting GmbH in Europe. Paul is currently serving on the board at GIPPO Hypermarkets in Belarus, VOLI in Montenegro and AHT Cooling Systems in Austria. Paul has previous experience at board level with Iceland Foods UK, overseeing international expansion from 2012 to 2014 and at EKO Holdings Poland, a 300-store retail business.
The main bulk of his career was 23 years at Aldi Süd, a privately held, German-headquartered global retailer, with operations in 10 countries covering Europe, US and Australia ending in 2012. During his tenure, Paul served on Aldi Süd international management board. He was the CEO for the UK and Republic of Ireland from 1999-2009 as well as identifying and implementing new business opportunities, including entry into new geographies (including Australia).
Paul started his career with Bejam Frozen Foods in 1974 and has over 40 years of experience in retail. He is fluent in English, German and Bulgarian.
Candidate: #08
Name: Khachatur E. Pombukhchan
DOB: 16 March 1974
Status: Non-Independent Candidate
Nominated by: Sergey N. Galitskiy
Education:
1996 / Kuban State University (Applied Mathematics)
2000 / All-Russia Distance Institute of Finance and Economics (Economics)
Current Employment:
2018 - Present / Magnit PJSC - Chief Executive Officer
Previous Employment:
2008 - 2018 / Magnit PJSC - Chief Financial Officer
2008 - 2018 / Tander JSC (a Magnit wholly-owned subsidiary) - Financial Director
2008 - 2012 / Magnit Finance (a Magnit wholly-owned subsidiary) - General Director
2005 - 2008 / Magnit PJSC - Head of Investor Relations & Head of Marketing
2003 - 2005 / MTS Telecommunications - Head of Macro Southern Region for in-house sales
1999 - 2003 / Kuban Telecommunications Company - Head of Commercial Sales for GSM
Board of Directors Experience:
2010-2018 / Magnit PJSC - Chairman of the Board of Directors
2008-2010 / Magnit PJSC - Member of the Board of Directors
Biography:
Mr. Pombukhchan is a native of Krasnodar, Russia where he graduated in 1996 with a degree in Applied Mathematics at Kuban State University and in 2000 earned a higher education in Economics. Mr. Pombukhchan has over 15 years of experience at two of Russia's leading consumer companies - MTS Telecommunications and Magnit.
For the past 10 years, Mr. Pombukhchan has been the Chief Financial Officer at Magnit where he worked very closely with Magnit's Founder and former CEO, Sergey Galitskiy. Under Mr. Pombukhchan's financial leadership Magnit transformed from a strong regional challenger into one of the most profitable and valuable FMCG retail companies in all of Europe.
During the past few years, Mr. Pombukhchan has assumed additional responsibilities beyond the traditional mandate of a CFO and has been responsible for success in a number of new areas for Magnit; including the implementation of a refurbishment program for the neighborhood Convenience format, a complete repositioning of the Magnit Family brand working with outside consultants, the launch of a new Pharmacy format and its current integration into the Cosmetics format, and a beta test for a new Big Data and loyalty program in two Federal Regions with more than 300,000 customers participating.
Mr. Pombukhchan was appointed CEO of Magnit in February 2018 and is very much looking forward to the challenge and opportunity to work with all stakeholders to rebuild Magnit into the strongest and most valuable publicly-traded Russian retail company.
Candidate #09
Name: Alexander M. Prisyazhnyuk
DOB: 23 May 1972
Status: Independent Candidate
Nominated by: The Genesis Emerging Markets Investment Company
The Genesis Group Trust for Employee Benefit Plans
The Russian Prosperity Fund
Prosperity Russia Domestic Fund Limited
Prosperity Capital Management SICAV
Education:
1995 / Kuban State University (Engineering Physicist)
Current Employment: N/A
Previous Employment:
2008 - 2009 / Tander JSC - Director of Strategic Development
2003 - 2008 / Magnit OJSC / Tander OJSC - Chief Financial Officer
2005 - 2008 / Magnit Finance LLC - General Director
1999-2008 / Tander CJSC - CFO
1997-1999 / Tander CJSC - Head of Sales, Director of Stavropol Branch
Board of Directors Experience:
2016 - present / LSR Group PJSC - Independent Board Member
2012 - 2017 / M.video PJSC - Independent Board Member, Chairman of the Audit Committee
2010 - 2016 / Dixy PJSC - Independent Board Member, Chairman of the Audit Committee, Chairman of the Compensation and Nominating Committee
2004 - 2008 / Magnit OJSC / Tander JSC - Board Member
Biography:
Alexander Prisyazhnuk held various positions at Tander and Magnit from 1997 to 2009. These included CFO at Tander and Magnit, General Director of Magnit Finance, and Director of Strategic Development at Tander. He was also a Director at Magnit, Tander and Magnit Nizhny Novgorod and Director at Dixy and M.video. Today, he serves as an Independent Director of LSR Group's Board of Directors.
Candidate #10
Name: Ilya K. Sattarov
DOB: 13 July 1976
Status: Non-Independent Candidate
Nominated by: Sergey N. Galitskiy
Education:
1998 / Kuban State University, Department of Finance & Credit (Economics Degree)
2015 / Institute of Modern Technology and Economics, Krasnodar. Corporate Strategy MBA course
Current Employment:
2018 - present / Magnit PJSC - First Deputy CEO
Previous Employment:
2017 - 2018 / Magnit PJSC - Deputy CEO (Sales, Human Resources, Network Development)
2016 - 2017 / Magnit PJSC - Deputy CEO (Sales, Human Resources)
2015 - 2016 / Magnit PJSC - Deputy CEO (Logistics, Human Resources)
2011 - 2015 / Magnit PJSC - Deputy CEO (Logistics)
2011 - 2011 / Magnit PJSC - Director of Transport
2010 - 2011 / Magnit PJSC - Director of M&A
2007 - 2010 / Banque Societe Generale Vostok - Director of the Southern Region
2005 - 2007 / Alfa-Bank - Corporate Business Director
2002 - 2003 / Kuban Energo - Head of Energy Trading Department
2000 - 2002 / Alfa-Bank - Head of Corporate Customer Service Department
Biography:
Mr. Sattarov is a native of the Krasnodar Region. He graduated from Kuban State University in 1998 with a degree in Finance & Credit. Mr. Sattarov's early career was in the banking sector where he was instrumental in building both the retail and commercial businesses for several local banks.
In 2007, Mr. Sattarov joined Banque Societe Generale Vostok where he was named the Director of the Southern Region. During his four years at "Banque Societe Generale Vostock," Mr. Sattarov was responsible for successfully developing new branches in Krasnodar, Sochi, Stavropol, Rostov-on-Don, and Volgograd.
In 2010, Mr. Sattarov was recruited by Sergey Galitskiy to join the senior management team at Magnit. During his 8 years at Magnit, Mr. Sattarov has held a number of senior executive roles with responsibilities including Logistics, Human Resources, Sales, and Network Development. Mr. Sattarov worked closely with Sergey Galitskiy to build Magnit logistics platforms into one of the strongest in Russia today. Mr. Sattarov was instrumental in fully integrating Magnit's logistics to cover transportation, warehousing, and customs clearance.
Over the past two years, Mr. Sattarov has assumed even more management responsibility and has worked closely with Mr. Galitskiy and Mr. Pombukhchan in growing Magnit into one of the largest and most profitable FMCG retailers in Europe. Mr. Sattarov looks forward to the challenges and opportunities facing Magnit today and is confident that Magnit has a very bright future ahead of it.
Candidate #11
Name: Charles E. Ryan
DOB: 11 May 1967
Status: Independent Candidate
Nominated by: Sergey N. Galitskiy
Education:
1989 / Harvard University (AB degree, Faculty of Arts & Sciences with a field of concentration in Government)
Current Jobs:
2008 - Present / UFG Asset Management (Chairman)
Board of Directors Experience:
2016 - present / Acumatica - Member of Board of Directors
2016 - present / Fasten - Member of Board of Directors
2014 - present / Jensen Management I Limited - Member of Board of Directors
2016 - 2017 / Brunswick Rail Limited - Member of Board of Directors
2013 - 2017 / Limitless Mobile Holdings LLC - Member of Board of Directors
2013 - present / Liberty Energy Trust - Co-Founder & Member of Board of Directors
2012 - present / Reputation Partners Ltd - Member of Board of Directors
2012 - present / Harvard Global Advisory Council - Member of Advisory Panel
2012 - present / Rycote Advisory Panel - Member of Advisory Panel
2012 - present / Preferred Proppants Holding LLC - Member of the Board of Directors
2012 - 2014 / Freemonee - Member of the Board of Directors
2011 - present / Yandex N.V.- Member of Board of Directors, Chairman of the Audit Committee
2011 - present / World Affairs Council - Member of Board of Directors
2010 - present / UFG Advisors Limited - Chairman of the Board of Directors
2009 - present / Trans-Siberian Gold plc - Member of Board of Directors
2008 - present / Capital Group International - Member of Advisory Panel
2008 - 2015 / Sovkomflot PJSC - Member of Board of Directors, Professional Director and Independent Expert, Chairman of the Audit Committee
2008 - present / The US Russia Foundation (holding The U.S. Russia Investment Fund ("TUSRIF") as a subsidiary) - Member of Board of Directors
2007 - 2015 / ANO "Moscow School of Political Research" - Co-Chairman of Board of Directors
2006 - present / US-Russia Business Council - Member of the Board of Advisors
2005 - present / PGI Plc - Member of the Board of Directors
Biography:
Charles Ryan's distinguished financial career combines top level expertise and deep knowledge of both Russian and international markets.
Mr. Ryan began his professional career in 1989 with CS First Boston, where he was a Financial Analyst. From 1991 to 1994, Mr. Ryan was an Associate and Principal Banker with the European Bank for Reconstruction and Development in London, where he played a crucial role in the city of St. Petersburg's privatization program for industry and real estate. In 1994, Mr. Ryan co-founded the United Financial Group, an independent investment bank in Moscow. United Financial Group was a founding member of such key market institutions as RTS (now part of the Moscow Exchange) and Investor Protection Association. UFG Asset Management was founded as part of the United Financial Group in 1996.
In 2005, when Deutsche Bank acquired 100% of UFG's investment banking business, Charles Ryan was appointed as the Chief Country Officer and CEO of the Deutsche Bank Group in Russia. He stepped down as the CEO of Deutsche Bank in Russia in September 2008 and in October 2008 became the Chairman of UFG Asset Management. In addition to his role as the Chairman, Mr. Ryan is also responsible for the overall management of UFG's private equity business.
Candidate #12
Name: Alexander V. Shevchuk
DOB: 03 June 1983
Status: Independent Candidate
Nominated by: The Genesis Emerging Markets Investment Company
The Genesis Group Trust for Employee Benefit Plans
The Russian Prosperity Fund
Prosperity Russia Domestic Fund Limited
Prosperity Capital Management SICAV
Education:
2005 / Financial Academy under the Government of the Russian Federation, Faculty of Finance and Credit (Economics)
Current Employment:
2014 - present / Executive Director at Association of Institutional Investors (API)
Board of Directors Experience:
2015 - present / OGK-2 - Independent Non-executive Director
2015 - present / IDGC of Center (Group of companies controlled by Rosseti) - Independent Non-executive Director
2016 - present / IDGC of Urals (Group of companies controlled by Rosseti) - Independent Non-executive Director
2017 - present / IDGC of North-West (Group of companies controlled by Rosseti) - Independent Non-executive Director
2012 - 2016 / Mostotrest - Independent Non-executive Director
2017 / TGK-1 - Independent Non-executive Director
2013 - 2014 / UAZ - Independent Non-executive Director
2010 - 2011 / Centertelecom - Independent Non-executive Director
2006 - 2011 / Far East telecom - Independent Non-executive Director
2010 - 2011 / South telecom - Independent Non-executive Director
2010 - 2011 / Sibirtelecom - Independent Non-executive Director
Audit Commissions Experience:
2014 - present / Rostelecom
2013 - present / Rosnano
Biography:
Mr. Alexander Shevchuk is an Executive Director at the Association of Professional Investors (API), leading Russian association of institutional investors uniting 30 large and most active institutional companies with the aggregate size of portfolio investments under management in Russia of over $29 bn. Alexander started his career in 2002 as an analyst of the group of non-executive directors in the Russian companies. He has vast experience in corporate governance including 13-year experience as a Board member in 18 companies and several audit commissions. Alexander represents portfolio investors in the largest reorganizations and reforms of Russian companies, in government relations and dispute settlement in corporate governance improvement processes.
For further information, please contact:
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Timothy Post
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Head of Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
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Dina Svishcheva
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Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-4554 x 15101
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Media Inquiries
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Media Relations Department
press@magnit.ru
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Company description:
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 December 31, 2017, Magnit operated 37 distribution centers and 16,350 stores (12,125 convenience, 243 hypermarkets, 208 Magnit Family stores and 3,774 drogerie stores) in 2,709 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2017, Magnit had revenues of RUB 1,143 billion and an EBITDA of RUB 92 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. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
