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:
- Andrey A. Guryev
- Andrey G. Guryev
- Sven Ombudstvedt
- James Rogers
- Xavier Rolet
- Marcus Rhodes
- Mikhail Rybnikov
- Irina Bokova
- Natalia Pashkevich
- Andrey Sharonov