Press-release
Krasnodar
July 2,
2015
PJSC “Magnit” Announces the Change in
the Company Management
Krasnodar, July 2, 2015:
PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX
and LSE: MGNT) announces the change in the Company management.
Please be informed that Mr. Vyacheclav Bocharov has resigned
from his position as the Head of the “Magnit” Convenience Store
format. Mr. Bocharov has joined the Russian Post and will serve as
the First Deputy CEO for the company.
Mr. Sergey Rubtsov has been
appointed the new Head of the “Magnit” Convenience Store format.
Mr. Rubtsov previously worked as the District Director of the
“Magnit” Convenience Store format. This change is effective from
July 1, 2015.
For further information, please
contact:
Timothy Post |
Director, Investor
Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562 |
Dina Svishcheva |
Deputy Director,
Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562 |
Company description:
Magnit is Russia's largest food
retailer. Founded in 1994, the company is headquartered in the
southern Russian city of Krasnodar. As of March 31, 2015, Magnit operated 28 distribution
centers and over 10,000 stores (8,581 convenience, 300
hypermarkets, and 1,239 drogerie stores) in approximately 2,180
cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial
statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded
on the Moscow Stock 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+. Measured by market capitalization,
Magnit is one of the largest retailers in Europe.