OJSC MAGNIT: Magnit CEO Sergey Galitskiy Named Best Corporate Manager
OJSC MAGNIT: Magnit CEO Sergey Galitskiy Named Best Corporate Manager Press-release
December 12, 2012
Magnit CEO Sergey Galitskiy Named Best Corporate Manager
Magnit CEO Sergey Galitskiy has been named the winner of the Award: "Russian leaders in corporate governance." This is Mr. Galitskiy's third nomination for the "Best corporate manager" at the annual Corporate Governance roundtable of the Investor Protection Association (IPA). OJSC "Magnit" has also won the Award for the "Company with the best corporate governance" for the second consecutive time.
The Investor Protection Association (IPA) was established in April 2000 to unite efforts of investors aimed at protecting their rights and improvement of corporate governance in Russia. Among the members of the Association there are Russian and foreign investors with a cumulative volume of investment in the Russian economy of over US$ 25 bn and considerable experience of operations in the Russian market.
IPA members are Alfa Bank, ATON, Vostok Nafta Investment Ltd, VFP, Dart Management, Deutsche Bank AG, EOS Russia, Equinox Fund Management, IC Russ-Invest, East Capital Asset Management, Kazimir Partners, KIT-Finance, NCH Advisors, ОМЗ, PPF BETA Ltd., Parus Capital Limited, Industrial Investors, Prosperity Capital Management, Renaissance Capital, SUN Capital Partners, Templeton Asset Management, Leader Management Company, Uralsib Management Company, Philip Morris Marketing and Sales, Hermitage Capital Management, Fleming Family & Partners.
For further information, please contact:
Oleg Goncharov Director, Investor Relations
e-mail: Goncharov@gw.tander.ru Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62
Dina Svishcheva Manager, Investor Relations
e-mail: Chistyak@gw.tander.ru Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description: Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX: MGNT) is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of September 30, 2012 the chain consisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family" stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughout the Russian Federation. Approximately two-thirds of the Magnit's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions. As of September 30, 2012 Magnit operated an in-house logistics system consisting of 17 distribution centers, employing automated stock replenishment systems and a fleet of 4,082 vehicles. In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Magnit recorded consolidated revenues of approximately $6.7 billion USD and a consolidated EBITDA of $671 million USD. Sergey Galitskiy also won the "Russian corporate governance leaders - 2009" and "Russian corporate governance leaders - 2011" awards in the same nomination END -0- Dec/12/2012 08:39 GMT