MAGNIT PJSC (MGNT)
Magnit to accelerate its digital transformation
12-May-2020 / 09:58 MSK
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Press Release | Krasnodar | May 12, 2020
Magnit to accelerate its digital transformation
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Krasnodar, Russia (May 12, 2020): Magnit PJSC (MOEX and LSE: MGNT; the
Company), one of Russia's leading retailers, announces it has attracted a
new team led by Florian Jansen to accelerate the digital transformation of
the Company. Florian is appointed as Executive Director and also becomes one
of the three deputies of the CEO Jan Dunning.
Next to him, Magnit welcomes an arrival of a highly professional
top-management team from Lamoda, including Paul Rogowski, appointed as
Transformation Office Director; Fabian Schaefer, Data and Analytics
Director; Valentin Schitov, Chief Information Officer; Pavel Orlov,
Innovation and Partnerships Director.
The new team will lead the Company's recently launched digital
transformation, which is essential to strategy implementation across
functions. The goals include:
· Increasing efficiency of the core business through modern retail
technology and developing IT infrastructure, advanced analytics, and
process optimization;
· Implementing a true omni-channel business to address emerging consumer
demands;
· Providing consolidated view on transformation projects and their
progress to ensure the best use of the companies resources.
As Executive Director of Magnit, Florian will be responsible for the
Transformation Office, PMO, Business Process Optimization, Technology and
IT, Advanced Analytics and Big Data, Marketing (including digital products,
customer loyalty system, CRM), and omnichannel services. These functions are
core for any modern retailer. Their consolidated management by Florian
Jansen ensures that Magnit will accomplish the digital transformation
effectively and well-coordinated.
Florian Jansen is one of most successful and experienced entrepreneurs in
Russian online retail. In 2011, he co-founded Lamoda Group, which has become
a leading fashion and lifestyle platform in Russia under his leadership
during over 10 years. Prior to taking the lead in Lamoda Group, Florian
Jansen worked at McKinsey & Company from 2006-2011. Florian holds Master's
degrees from the German University of Witten/Herdecke, the London School of
Economics and Columbia University, New York.
In June 2019, Florian Jansen was elected as an independent non-executive
member of Magnit's Board of Directors, heading the Strategy Committee since
July 2019. Since then, Florian had the chance to deeply understand the
business of the Company. Together with the Board and the executive team, he
took part in framing many strategic decisions on Magnit. Florian played a
key role in the development of the Company's digital transformation strategy
and its recent launch.
Jan Dunning, Magnit's President and CEO, commented on the appointment:
«So far Magnit has not been active in digital technologies, e-commerce and
innovations. We focused our efforts on increasing our effectiveness across
traditional formats and operations in general, while also improving our
offer to the customers. There is still a long way to go, however, the time
has come for Magnit to make an important step forward into the digital era.
I am therefore excited to welcome a top class professional team to Magnit
with the expertise that is yet new to the Company. Real entrepreneurs, the
team has built a leading online business from scratch, and now can bring
their experience to Magnit. Big data, advanced analytics, new IT
technologies, omni channels are becoming more and more important to maintain
sustainability of the business. The expertise of the new team in these areas
will help Magnit to accelerate its digital transformation and become one of
the leading players in the Russian online retail market".
Florian Jansen, Magnit's Executive Director and Deputy CEO, commented on the
appointment:
«Magnit is a great, important company which I've always admired. Since I
joined the Board of Directors, this admiration has been only growing: the
scale and the ambition excites me, the people I meet and the DNA of the
company are inspiring. So, when Jan invited me to join the team and lead the
digital transformation, I could not refuse. Magnit - as any traditional
retailer - is facing a huge challenge: the world and consumers are changing
at accelerated pace, and the Company has to modernize its business to remain
successful. Transformation will touch almost every aspect of Magnit's
business, that's why it is very important for us to run this process
structured and well-coordinated. Our goal is to further build on our current
operational and strategic advantages to ensure sustainable growth in future.
I am excited about the challenges ahead».
Charles Ryan, Magnit's Chairman of the Board of Director, commented on
appointment:
«On behalf of the Board I would like to thank Florian Jansen for his
contribution to Magnit's development in his Independent Director role. I
believe, his deep experience and knowledge of digital platforms in retail
are in great demand nowadays and will contribute well to the Company's
ambitious plans in transformation. We are very happy with this transition
and wish him success in his new endeavor».
Florian Jansen will start his new role in Magnit upon obtaining a work
permit. Given his appointment as an Executive Director of Magnit, Florian
Jansen refused to be elected to the Board of Directors at the Annual General
Shareholders Meeting of PJSC "Magnit" on June 4, 2020.
For further information, please contact:
Dmitry Kovalenko
Director for Investor Relations
Email: dmitry_kovalenko@magnit.ru
Office: +7 (861) 210-48-80
Dina Chistyak
Director for Investor Relations
Email: dina_chistyak@magnit.ru
Office: +7 (861) 210-9810 x 15101
Media Inquiries
Email: press@magnit.ru
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, 2020, Magnit operated 38 distribution centres
and 20,860 stores (14,594 convenience, 472 supermarkets and 5,794 drogerie
stores) in 3,718 cities and towns throughout 7 federal regions of the
Russian Federation.
In accordance with the audited IFRS results for FY 2019, Magnit had revenues
of RUB 1,369 billion and an EBITDA of RUB 147 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.
ISIN: US55953Q2021
Category Code: MSCU
TIDM: MGNT
LEI Code: 2534009KKPTVL99W2Y12
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 63085
EQS News ID: 1041839
End of Announcement EQS News Service
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May 12, 2020 02:58 ET (06:58 GMT)
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