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O'KEY Group S.A. (OKEY)
O'KEY Group S.A.: O'KEY Group announces appointment of Chief Operating
Officer and Real Estate Director
25-May-2018 / 12:01 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press Release
25 May 2018
O'KEY GROUP ANNOUNCES APPOINTMENT OF
CHIEF OPERATING OFFICER AND REAL ESTATE DIRECTOR
O'KEY Group S.A. (LSE: OKEY, the 'Group'), one of the leading Russian food
retailers, announces the appointment of Martin Piterák as Chief Operating
Officer (COO). The Group also announced the appointment of Pavel Remezov as
Real Estate Director.
The organisational changes implemented by the Group also led to a number of
important appointments in the Marketing and Commercial Departments. With
these appointments, O'KEY has completed a crucial stage in building the
executive management team.
Appointment of Martin Piterák to Chief Operating Officer
Martin Piterák graduated from the Private School of Trade in the Czech
Republic with a diploma in Economics & Management and has over 20 years of
retail experience. Martin began his career in the Czech Chamber of Commerce
in the field of certification business support and then transitioned into
retail in 1996 where he worked for the Dutch retailer Ahold as a logistics
specialist. Martin then moved to Kaufland in 1998, where he refined his
expertise in sales, supply chain management and logistics before assuming
the position of Head of Supply Chain and Sales at Kaufland's Czech
operations in 2007.
As COO, Martin Piterák will be responsible for ensuring the efficient
performance of the Sales, Supply Chain and Own production. Martin speaks
Czech, Russian, English and German.
Appointment of Pavel Remezov to Real Estate Director
Pavel Remezov graduated from St. Lawrence University in the USA with a
degree in Economics and has an established track record of over 20 years in
commercial real estate and strategic planning. Previously, Pavel held senior
positions in other leading retailers including Lenta, OBI and METRO
Cash&Carry, where he was at the forefront of the chain expansion in Russia.
Prior to entering into retail Pavel worked in the investment and development
business for NCH Capital and BV Development after having begun his career in
real estate at Colliers International in 1997.
As Real Estate Director, Pavel will be accountable for all matters relating
to the Group's real estate, including expansion, construction, maintenance
and lease, while also managing the Department of Goods Not For Resale. Pavel
speaks Russian and English.
Other Appointments
Martin Piterák's team will include Niksa Nekic, the newly appointed Head of
Own Production who will be responsible for the quality and freshness of own
production and customer service. Previously, Mr Nekic worked for Kaufland
where he implemented the Organisation & Control of Freshness Standards
project across Germany, Czech Republic, Poland, Slovakia, Romania, Bulgaria
and Croatia. Niksa speaks Croatian, English and German.
Structural changes also took place in the Marketing department where Tino
Andic was appointed to the position of Strategic Marketing Director. Joining
the team of Commercial Operations Officer Ivan Dropuljic, Tino will manage
the Group's marketing agenda as well as the store format and layout
development. Tino previously held senior marketing positions at a number of
established international firms including Leo Burnett, WPP, J.Walter
Thompson and others. In addition, Tino speaks Croatian, Russian and English.
The O'KEY Commercial Department was supplemented by a new structure
dedicated to the fruit and vegetable business. This strategic restructuring
is intended to strengthen the Group's relevant expertise in the area,
improve quality and range, shorten the delivery time for fresh products and
establish contracts with foreign producers to enable the direct import of
fruit and vegetables. This will be headed by Dinko Gadjev, Commercial
Director for Fruit & Vegetables, who joined the Group after 20 years at
Kaufland Germany, where he gained extensive experience in category
management, international procurement, import development, quality and
certification. Dinko also speaks Russian, English, German and Bulgarian.
Miodrag Borojevic, Chief Executive Officer of O'KEY, commented:
"With the recent appointments, we have made great progress in consolidating
our team of industry experts. We have added seasoned professionals with both
Russian and international experience in order to best position the Group for
future growth. These structural changes will enable us to achieve our
long-term strategic objectives and leave us well placed to meet our
immediate target of developing the most convenient and modern retail formats
for our customers."
OVERVIEW
O'KEY Group S.A. (LSE: OKEY, Fitch - 'B+') is one of the largest retail
chains in Russia. The Group operates under two main formats: hypermarkets,
under the 'O'KEY' brand and discounters, under the 'DA!' brand.
As at May 25, 2018, the Group operates 145 stores across Russia. The Group
opened its first hypermarket in St. Petersburg in 2002 and has since
demonstrated continuous growth. O'KEY is the first among Russian food
retailers to launch and actively develop e-commerce operations in St.
Petersburg and Moscow, offering a full range of hypermarket products for
home delivery. The Group operates four distribution centres across the
Russian Federation.
For the full year 2017, revenue totalled RUB 177,454,848 thousand, EBITDA
reached RUB 9,334,993 thousand, and the net income for the period amounted
to RUB 3,166,913 thousand.
O'KEY shareholder structure is as follows: NISEMAX Co Ltd - 50.95%, GSU Ltd
- 29.52%, free float - 19.53%.
DISCLAIMER
These materials contain statements about future events and expectations that
are forward-looking statements. These statements typically contain words
such as 'expects' and 'anticipates' and words of similar import. Any
statement in these materials that is not a statement of historical fact is a
forward-looking statement that involves known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.
None of the future projections, expectations, estimates or prospects in this
announcement should be taken as forecasts or promises nor should they be
taken as implying any indication, assurance or guarantee that the
assumptions on which such future projections, expectations, estimates or
prospects have been prepared are correct or exhaustive or, in the case of
the assumptions, fully stated in this announcement. We assume no obligations
to update the forward-looking statements contained herein to reflect actual
results, changes in assumptions or changes in factors affecting these
statements.
For further information please contact:
Veronika Kryachko
Head of Investor Relations
+7 495 663 6677 ext. 404
Veronika.Kryachko@okmarket.ru
www.okeyinvestors.ru [1]
ISIN: US6708662019
Category Code: MSCM
TIDM: OKEY
Sequence No.: 5587
EQS News ID: 689639
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 25, 2018 06:01 ET (10:01 GMT)
