Magnit announces organisational changes to accelerate e-commerce development and digital transformation

DJ Magnit announces organisational changes to accelerate e-commerce development and digital transformation

MAGNIT PJSC (MGNT) 
Magnit announces organisational changes to accelerate e-commerce development and digital transformation 
15-Jul-2021 / 10:00 MSK 
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MAGNIT announces organisational changes to accelerate e-COMMERCE development and digital transformation 
Krasnodar, Russia (July 15, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading 
retailers, announces changes to the Company's organisational structure in order to accelerate Magnit's digital 
transformation and focus on growing e-commerce sales. 
As part of the reorganisation, a new business unit has been established to oversee the development of Magnit's 
e-commerce sales channels and to continue to enhance the Company's e-commerce infrastructure. The business unit will be 
led by Andrey Lukashevich, who was recently appointed to the position of E-commerce director. Andrey is responsible for 
Magnit's continued e-commerce development and will report directly to Jan Dunning, Magnit's President and CEO. 
Going forward, a separate business unit will oversee the continuous development of Magnit's technology and 
IT-infrastructure as well as the Company's advanced analytics and big-data capabilities. 
As a result of these organisational changes, the position of Executive Director and Deputy CEO, currently held by 
Florian Jansen, will be made redundant. 
These changes are aimed at simplifying and speeding-up decision-making, ensuring more efficient cross-functional 
collaboration and accelerating the roll-out of Magnit's e-commerce strategy and infrastructure, including the 
implementation of cutting-edge IT-systems. 
« 
Jan Dunning 
Magnit's   "Magnit has ambitious expansion plans across both the Company's store retail business and online sales 
President and channel. We continue to test various initiatives across both parts of the business in order to accelerate 
CEO      our progress moving forward. This progress will be underpinned by further enhancements to our 
       IT-infrastructure and the smooth integration of this technology into Magnit's key business processes, all 
»       supported by the organisational changes announced today." 
 
       For further information, please contact: 
 
       Dina Chistyak 
       Head of Investor Relations 
       [e-mail] 
 
       Office: [phone] x 15101 
 
       Media Inquiries          Twitter 
       [e-mail]          @MagnitIR 
 
       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, 2021, Magnit operated 39 
       distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) 
       in 3,770 cities and towns throughout 7 federal regions of the Russian Federation. 
       In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion 
       and an EBITDA of RUB 178.2 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. 
       Forward-looking statements 
 
       This document contains or may contain forward-looking statements that may or may not prove accurate. For 
       example, statements regarding expected sales growth rate and/or store openings are forward-looking 
       statements. Forward-looking statements involve known and unknown risks, uncertainties and other important 
       factors that could cause actual results to differ materially from what is expressed or implied by the 
       statements. Any forward-looking statement is based on information available to Magnit as of the date of 
       the statement. All written or oral forward-looking statements attributable to Magnit are qualified by 
       this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement 
       to reflect any change in circumstances. ----------------------------------------------------------------------------------------------------------------------- 
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.:  117443 
EQS News ID:  1219001 
 
End of Announcement EQS News Service 
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(END) Dow Jones Newswires

July 15, 2021 03:00 ET (07:00 GMT)