Fri, 2nd Nov 2018 16:34
EN+ GROUP announces management changes
2 November 2018 - EN+ GROUP PLC (the "Company", "En+ Group" or the "Group") (LSE: ENPL, MOEX: ENPL) announces that on 1 November 2018 the Group's Board of Directors (the "Board") reviewed the management structure of the Group in light of the potential implementation of the Barker Plan (as defined below) and recent updates to the legal framework of the Russian metals, mining and energy industries. The Board has accordingly approved the appointments of Vladimir Kiriukhin as Chief Executive Officer ("CEO") of the Group and Vyacheslav Solomin as Chief Operating Officer of the Group. The appointments were effective from 1 November 2018.
The Board has considered the significant changes in the Russian metals, mining and energy industries that will be required to meet the new regulatory obligations introduced, among other things, as part of implementation of the National Programme "Ecology". In order to drive the change across the Group and lead the industry in embracing those environmental and operational standards, the Group's executive management has been further strengthened with the approved appointments, which promote both operational excellence and strategic business development. These management changes are consistent with the Barker Plan and the enhanced governance structures it will introduce.
Mr. Kiriukhin, a proven expert in the energy sector, will oversee the Company's long-term strategy, the business development of the entire Group and cooperation with key external stakeholders, including regulators.
Mr. Solomin, in turn, will focus on further strengthening the Group's environmental practices, business planning and as well as its day-to-day operations in the new market environment.
Note for editors:
Mr. Kiriukhin held various senior positions, including First Deputy CEO and CEO of JSC EuroSibEnergo (a 100% subsidiary of EN+ GROUP PLC) between 2001 and2008.
In his capacity as First Deputy CEO of JSC EuroSibEnergo, Vladimir Kiriukhin built an efficient system of cost management while at the same time driving margins across the business. He was instrumental in creating a modern business planning system throughout the Group.
Vladimir Kiriukhin was also a member of the supervisory board of the Non-Commercial Partnership Market Council, the supervisory board of the Non-Commercial Partnership Energy Producers Council and Chairman of the Board of Directors of the Moscow Energy Exchange.
Vyacheslav Solomin was appointed CEO of EN+ GROUP PLC in April 2018. Previously, he served as CEO of JSC EuroSibEnergo since May 2014. From 2007 to2017, he held various director positions within the Group, including COO of the Group.
"Barker Plan" - the plan originally announced by the Company on 27 April 2018 aimed at removal of the Company and its subsidiaries from the Specially Designated Nationals List of the Department of the Treasury of the United States of America.
For further information, please contact:
Tel: +7 495 642 79 37
Tel: +7 (495) 642 7937
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.