Last checked at 5 Oct 2017 15:30
PJSC PHOSAGRO - Sven Ombudstvedt Reappointed as Board ChairmanPJSC PHOSAGRO - Sven Ombudstvedt Reappointed as Board Chairman
PR Newswire
London, October 5
| For Immediate Release | 5 October 2017 |
Sven Ombudstvedt Reappointed as Board Chairman
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors has re-elected Independent Director Sven Ombudstvedt as its Chairman. Andrey G. Guryev, Vice President of the Russian Union of Chemists, was elected Deputy Chairman of the Board.
The Board of Directors appointed the leadership and members of the Board Committees. The Audit Committee will be chaired once again by Independent Director Marcus Rhodes; PhosAgro CEO and Board of Directors Member Andrey A. Guryev was re-appointed Chairman of the Strategy Committee; Independent Director James Rogers will lead the Remuneration and Human Resources Committee, the Environmental, Health and Safety Committee will be chaired by PhosAgro-Cherepovets General Director and PhosAgro Board of Directors Member Mikhail Rybnikov; the Risk Management Committee will be chaired by Ivan Rodionov.
In addition, members of the Management Board of PhosAgro were appointed, and members of the Management Board were granted permission to hold management positions at other organisations:
| ? | New Management Board | Previous Management board |
| 1. | Andrey A. Guryev | Andrey A. Guryev |
| 2. | Mikhail Rybnikov | Mikhail Rybnikov |
| 3. | Roman Osipov | Alexander Sharabaika |
| 4. | Alexei Sirotenko | Alexei Sirotenko |
| 5. | Siroj Loikov | Siroj Loikov |
These decisions were made at the first meeting of the Board of Directors, which was elected by an EGM on 2 October 2017. The number of members of the Board of Directors was increased from 8 to 10 people, half of which are independent:
| ? | New Board of Directors | Previous Board of Directors |
| 1. | Andrey A. Guryev | Andrey A. Guryev |
| 2. | Andrey G. Guryev | Andrey G. Guryev |
| 3. | Sven Ombudstvedt* | Sven Ombudstvedt* |
| 4. | James Rogers* | James Rogers* |
| 5. | Ivan Rodionov* | Ivan Rodionov* |
| 6. | Marcus Rhodes* | Marcus Rhodes* |
| 7. | Mikhail Rybnikov | Mikhail Rybnikov |
| 8. | Alexander Sharabaika | Igor Antoshin |
| 9. | Natalia Pashkevich* | |
| 10. | Andrey Sharonov* |
* non-executive director
Notes to Editors
PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers.
The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.
PhosAgro’s 2016 IFRS revenue was over USD 2.8 bln and EBITDA was USD 1.08 bln.
For further information on PhosAgro please visit: www.PhosAgro.com