PhosAgro Board Elects Independent Director Xavier Rolet as Chairman

OJSC PhosAgro (PHOR) 
PhosAgro Board Elects Independent Director Xavier Rolet as Chairman 
 
27-May-2019 / 10:20 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer / publisher is solely responsible for the content of this 
announcement. 
 
For Immediate Release   27 May 2019 
 
         PhosAgro Board Elects Independent Director Xavier Rolet as Chairman 
 
      Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: 
     PHOR), one of the world's leading vertically integrated phosphate-based 
     fertilizer producers, announces that its Board of Directors has elected 
   Independent Director Xavier Rolet as its Chairman. The Board of Directors 
  also re-elected as its Deputy Chairman Andrey G. Guryev, Vice President of 
                                         the Russian Union of Chemists. 
 
      This decision has been taken by the new members of PhosAgro's Board of 
 Directors, elected by the Annual General Meeting of shareholders (the AGM). 
 
      Xavier Rolet will take up the baton as Chairman from Sven Ombudstvedt. 
   Before joining PhosAgro in May 2018 as an Independent Director, Mr. Rolet 
 successfully led the London Stock Exchange Group (LSEG) for more than eight 
                                         years. 
 
     PhosAgro CEO Andrey Guryev said: "Sven Ombudstvedt has led the PhosAgro 
 Board of Directors since our IPO in 2011. His knowledge and experience have 
    made a significant contribution to the Company's successful development. 
      During Sven's time as Chairman of the Board of Directors, PhosAgro has 
      successfully developed and implemented its strategy to 2020, which has 
 delivered sustainable growth in production capacity while strengthening our 
   position as one of the lowest cash cost of production producers globally. 
       Sven has been instrumental in establishing PhosAgro as a Company that 
   implements best practices in corporate governance and strictly adheres to 
        the requirements for publicly listed companies in the UK and Russia. 
 
           "Under Sven's leadership, PhosAgro has also focused on continuing 
         improvements in its environmental and workplace safety performance. 
 
  "Looking ahead, I am very happy to welcome Xavier Rolet to his new role as 
 Chairman of the Board of Directors. As a company listed on the London Stock 
  Exchange, we have known Xavier for many years. His excellent understanding 
   of the investor community and knowledge of corporate governance practices 
     will play a key role in PhosAgro's development as a global company that 
  engages with a wide range of international stakeholders, from investors to 
    regulators to crop nutrient customers in 100 countries around the world. 
 
   "As we kick of our strategy to 2025, which will be presented in detail to 
  investors this autumn at our Capital Markets Day, Xavier Rolet will play a 
                          key role in PhosAgro's next stage of development." 
 
       Independent Director Xavier Rolet said: "Ever since becoming a public 
         company, PhosAgro has been committed to upholding high standards of 
corporate governance and information disclosure, and maintains a majority of 
                            independent directors on the Board of Directors. 
 
 "It is a great honour for me to be appointed to such an important position, 
   and I intend to continue with the pace of improvements to the work of the 
                        Board of Directors that was set by Sven Ombudstvedt. 
 
      "PhosAgro is at a very important point of its development as it begins 
implementation of the strategy to 2025, which aims to further strengthen our 
   competitive advantages by increasing efficiency and production volumes. I 
     have no doubt that PhosAgro will once again successfully deliver on its 
strategic goals: the Company has high-quality production assets and a highly 
    professional team with tremendous experience and expertise, which helped 
     PhosAgro to achieved all of the key objectives of the previous strategy 
      ahead of schedule. I will be happy to contribute to strengthening this 
                                         unique growth story." 
 
The number of members of the Board of Directors remains 10 people. Following 
the decision made by the AGM, PhosAgro's New Board of Directors will include 
    the following members: Irina Bokova, Andrey A. Guryev, Andrei G. Guryev, 
    Sven Ombudstvedt, Natalia Pashkevich, James Rogers, Xavier Rolet, Marcus 
                               Rhodes, Mikhail Rybnikov and Andrei Sharonov. 
 
                                     For further information please contact: 
 
                                         PhosAgro 
 
                   Alexander Seleznev, Head of Investor Relations Department 
 
                                         [phone] ext 2187 
 
                                         [e-mail] 
 
                                         Timur Belov, Press Officer 
 
                                         [phone] 
 
                                         EM 
 
                                         Sam VanDerlip 
 
                                         [e-mail] 
 
                                         [phone] 
 
                                         [phone] 
 
                                         Dmitriy Zhadan 
 
                                         [e-mail] 
 
                                         [phone] 
 
                                         [phone] 
 
                                         About the Company 
 
PhosAgro is one of the world's leading vertically integrated phosphate-based 
      fertilizer producers in terms of production volumes of phosphate-based 
    fertilizers and high-grade phosphate rock with a P2O5 content of 39% and 
                                         higher. 
 
The Company is the largest phosphate-based fertilizer producer in Europe (by 
    total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of 
  high-grade phosphate rock with a P2O5 content of 39%, a top-three producer 
  of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) 
   in Europe, and the only producer in Russia, and Russia's only producer of 
                              nepheline concentrate (according to the RAFP). 
 
  PhosAgro's main products include phosphate rock, 39 grades of fertilizers, 
    feed phosphates, ammonia, and sodium tripolyphosphate, which are used by 
customers in 100 countries spanning all of the world's inhabited continents. 
      The Company's priority markets outside of Russia and the CIS are Latin 
                                         America, Europe and Asia. 
 
  PhosAgro's shares are traded on the Moscow Exchange, and Global Depositary 
    Receipts (GDRs) for shares trade on the London Stock Exchange (under the 
   ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in 
                          the MSCI Russia and MSCI Emerging Markets indexes. 
 
More information about PhosAgro can be found on the website: www.phosagro.ru 
                                         [1]. 
 
ISIN:          US71922G2093 
Category Code: BOA 
TIDM:          PHOR 
LEI Code:      635400F8A3KGJIIBIK95 
Sequence No.:  8806 
EQS News ID:   815975 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=443ca16678306c21ad7d78a6b83a5230&application_id=815975&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

May 27, 2019 04:20 ET (08:20 GMT)