OJSC PhosAgro (PHOR)
Siroj Loikov Appointed First Deputy CEO of PhosAgro
Moscow - Siroj Loikov has been appointed First Deputy CEO of PhosAgro, a global leader in the production of phosphate-based fertilizers.
In his new position, Mr Loikov, who was previously Deputy CEO in charge of international projects and personnel policy, will coordinate the work of the Company's headquarters in Moscow, its management company in Cherepovets and the Company's production sites. He will also oversee the implementation of the PhosAgro's priority development projects and will be responsible for the appointment, development and assessment of the work of the Company's top management.
Evgeny Novitsky, also First Deputy CEO at PhosAgro, will continue working to improve the system for interaction between the Company and government agencies, and he will also continue to oversee PhosAgro's GR communications at the federal and regional levels.
Mikhail Rybnikov, who has been appointed as an executive director, will focus on the integration of production, logistics and sales, further improvement of the economic efficiency of production and supply processes and cost management. He will also oversee the implementation of key IT projects and integrated planning, as well as improvement of industrial safety standards and the occupational health system at PhosAgro enterprises.
PhosAgro CEO Andrey Guryev said, "Today, the Company is facing external challenges that require a prompt response and serious international expertise. We have a great deal of work ahead of us to build new partnerships, to implement major international projects, including in terms of expanding the use of environmentally friendly fertilizers, research and international trade, and to support the creation of a Green Standard for agricultural products in Russia and for its recognition as a global quality standard.
"Also on the agenda is the implementation of in-house projects to digitalise production and to restructure our occupational health and industrial safety functions.
"Meeting these challenges will require a great deal of commitment and attention. With this in mind, I decided to make some changes to the organisational structure of the Company's management and delegate some of my duties as CEO.
"These changes will ensure that equal attention is paid to finding solutions to challenges both within the Company and in interaction with our partners, and they will enable us to develop in new areas and achieve the key performance indicators outlined in our Strategy 2025.
"I am confident that Siroj Loikov's previous work experience in the Company - managing international projects and personnel policies - will help him succeed with the challenges before him."
PhosAgro (www.phosagro.com) 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 39% and higher. PhosAgro's environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals.
The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39% and one of the leading producers of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, 39 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.
More information about PhosAgro can be found on the website: www.phosagro.com.
*By total volumes of fertilizers supplied and by the simultaneous fertilizer storage capacity.
|EQS News ID:||1021837|
|End of Announcement||EQS News Service|