Phosagro S Regulatory News (PHOR)

PJSC PHOSAGRO - REPLACEMENT: Former LSE CEO Xavier Rolet Joins INED

PR Newswire

London, May 31

Phosagro announcement released on 30 May 2018 at 18:27 under PRNUK-3005181827-CCB2 has been amended.

Amendments are identified with an asterisk (*).

The full amended text is shown below.

 Former LSE CEO Xavier Rolet Joins PhosAgro’s Team of Independent Directors

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically-integrated phosphate-based fertilizer producers, announces that Xavier Rolet has joined the Company’s Board of Directors.

Today, the new composition of the Board of Directors of PJSC PhosAgro was duly elected at the Annual General Meeting of shareholders (AGM).

Xavier Rolet successfully led the London Stock Exchange Group (LSEG), Europe’s leading stock exchange group, for nine years. Under his leadership, the LSEG developed and executed an effective and successful strategy that transformed the Exchange as a global financial institution, and also established a strong senior management team. As a result, the LSEG under Xavier Rolet became a genuinely diversified player on the global financial infrastructure market, and its market capitalisation increased from GBP 800 million to GBP 14 billion. In 2017 Harvard Business Review named Xavier Rolet one of the world’s 100 top CEOs.

PhosAgro CEO Andrey Guryev said: “We are delighted to welcome Xavier to the Board as an independent director. He has unrivalled knowledge of global capital markets as he has successfully headed a major international financial institution. We believe that his insights and unique skillset will benefit our Company.”

PhosAgro CEO Andrey Guryev further noted that with this appointment independent directors now account for the majority of Board members.

Along with Rolet the following candidates were elected as new Board members: Sven Ombudstvedt, Chairman of the Board of Directors; Marcus Rhodes, Chairman of the Audit Committee of the Board; Irina Bokova, the first woman to become the CEO of UNESCO where she served two four-year terms between 2009 and 2017; Jim Rogers, international investor; Natalia Pashkevich, a world-renowned scientist; Andrey Sharonov, who has extensive experience of working in government and investment.

Chairman of PhosAgro’s Board of Directors Sven Ombudstvedt said: “Xavier Rolet will undoubtedly strengthen the Board yet further, extending the range of knowledge and skills of its members and helping to further improve PhosAgro’s corporate governance system and comply with the best market practice”.

*Xavier Rolet, independent member of PhosAgro’s Board of Directors and Chairman of the Risk Management Committee, said: “I am pleased that my experience is highly valued by one of the world’s leading fertilizer producers. As I already have some experience in the field of Agriculture, I am looking forward to studying the fertiliser Industry in detail to understand how I can apply my knowledge and experience”.*

PhosAgro’s New Board of Directors will now include the following members:

Biographical information

Xavier R. Rolet was the CEO of the London Stock Exchange Group (LSEG) from May 2009 to December 2017. Under his leadership, the company acquired MillenniumIT (2009), Turquoise Holdings Ltd (2010), FTSE Group (2011), TRS (2011), GATElab Srl (2012), EuroTLX Srl (2013), LCH.Clearnet (2013), Bonds.com (2014), Exactpro(2015), XTF (2015) and the Frank Russell Company (2014) from Northwestern Mutual, which in October 2015 sold its asset management division to TA Associates and Reverence Capital Partners. In 2016, he acquired Mergent, Inc. and the Yield-Book & Citigroup’s Global Fixed Income Index Business from Citigroup, making FTSE Russell the largest index company in the world with ca $15 trillion of assets under benchmark. In October 2015, LSE Group launched Curve Global, a new futures exchange co-owned with Barclays Bank, Bank of America, Citi, Goldman Sachs, Société Générale, BNP Paribas and the Chicago Board Options Exchange. Under his tenure, the value of the London Stock Exchange Group increased from £800 million to £14 billion. Prior to joining the London Stock Exchange Group, Xavier Rolet worked for Lehman Brothers, Kleinwort Benson, CS First Boston and Goldman, Sachs & Co.

 After graduating from the KEDGE Business School with an MSc in management science and finance in 1981, Xavier served as a second lieutenant and instructor at the French Air Force Academy, and earned an MBA from Columbia Business School in 1984 and a post-graduate degree from Paris-based IHEDN (Institute of Advanced Studies in National Defence) in 2008.

 Xavier then became a member of the European Securities Markets Expert Group of the European Commission, a member of the French Government’s Conseil Stratégique de l’Attractivité(“Strategic Council for Attractiveness”), a board member of the American Chamber of Commerce in France, and a member of Chatham House in London.

 Xavier is a member of the Board of Overseers of Columbia University Business School, an Honorary Fellow of the Chartered Institute for Securities and Investments FSCI (Hon), and was a member of the Financial Services Trade and Investment Board of HM Treasury (FSTIB). Since Oct 2017, he has been a member of the Committee of Expert Advisers at the Department for International Trade. He was also a member of Prime Minister David Cameron’s Business Advisory Group and was a member of the Governor of the Bank of England’s Financial Services Forum and of the Bank of England’s Open Forum. In October 2015, he was appointed an Honorary Knight Commander of the Most Excellent Order of the British Empire (KBE) by Her Majesty Queen Elizabeth II. In December 2015, he was appointed Echansonnier ‘A Camera Paramenti’ of the Echansonnerie de Châteauneuf-du-Pape. In January 2016, President of France Francois Hollande made him a Knight of the National Order of the Legion of Honour of the French Republic. In July 2016, he was made an Officer of the Royal Sharifian Order of Al-Alaoui (Order of OuissamAlaouite) by His Majesty King Mohammed VI of Morocco. In 2017, the highly respected Harvard Business Review included him on their list of the best-performing 100 CEOs in the world. Futures & Options World awarded him its 2017 Lifetime Achievement Award. He received the same Lifetime Management award in 2018 from both Risk Magazine and the City of London Wealth Management Association.

He was awarded the Order of Friendship of the Russian Federation by Ambassador Alexander Yakovenko on behalf of Foreign Minister of the Russian Federation Sergei Lavrov.

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* PhosAgro (www.phosagro.ru) is one of the world’s leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of not less than 39% (according to IFA, Fertecon and CRU).

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide, and one of the top-three MAP/DAP producers in the world (by production volumes, according to IFA). PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia (according to CRU and RAFP). PhosAgro is Russia’s only producer of nepheline concentrate (according to RAFP).

PhosAgro’s main products include phosphate rock, over 35 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.