Magnit PJSC: Magnit Announces Changes in the Financial Block

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 
*********************************************** 
 
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: [e-mail] 
 
Office: [phone] 
 
                                                               Dina Chistyak 
 
Director for Investor Relations 
 
Email: [e-mail] 
 
Office: [phone] x 15101 
 
Media Inquiries 
 
Email: [e-mail] 
 
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)