MAGNIT PJSC (MGNT)
Magnit Announces Changes in the Financial Block
15-Jul-2020 / 10:26 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press-Release | Krasnodar | July 15, 2020
Magnit Announces Changes in the Financial Block
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Krasnodar, July 15, 2020: Magnit PJSC (MOEX and LSE: MGNT; the Company), one
of Russia's leading retailer, announces changes in the financial block.
Elena Milinova who held the position of the Chief Financial Officer made a
decision to leave the Company. From July 15, 2020, Dmitry Ivanov is
appointed acting Chief Financial Officer of JSC Tander.
Dmitry Ivanov has 20 years of experience in corporate finances in retail
sector. He joined Magnit in October 2019 as the Controlling Director. Prior
to that, Dmitry had different leading positions in corporate finance and
controlling in Lenta for 10 years and held similar position in Laverna for 9
years.
Elena Milinova joined the Company in April 2018: she was responsible for a
set of issues related to the retail chain's financial activity, development
and launch of Magnit's new financial strategy, and was in charge of the
development of the Shared Service Center and a centralization process of a
number of the core business functions.
Jan Dunning, President and CEO of Magnit, commented:
"We'd like to thank Elena Milinova for her substantial contribution to the
Company's development during the period of its business transformation. We
sincerely appreciate the work Elena has done and wish her success in new
projects."
On July 14, 2020 Board of Directors of PJSC Magnit made a decision to
exclude Elena Milinova from the Management Board. From July 15, 2020 PJSC
Magnit Management Board consists of 9 members.
Please follow the links below to read full text of the Board decisions:
http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian
language);
https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language);
https://www.magnit.com/en/disclosure/regulatory-news/tabs-Disclosure (in
English).
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.: 75763
EQS News ID: 1093955
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 15, 2020 03:26 ET (07:26 GMT)
