Moscow – The Board of Directors of PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has re-elected as its Chairman the Independent Director Sven Ombudstvedt. Vice-president of the Russian Union of Chemists Andrei G. Guryev was elected as Deputy Chairman of the Board of Directors.
At its meeting, the Board of Directors Meeting approved the leadership and membership of the Board committees. The Audit Committee will be chaired once again by Independent Director Marcus Rhodes; Andrey A. Guryev was appointed Chairman of the Strategy Committee; Independent Director James Rogers will lead the Remuneration and Human Resources Committee, while the Environmental, Health and Safety Committee will be chaired by Igor Antoshin, and the Risk Management Committee will be chaired by Ivan Rodionov.
The Board of Directors also called an Extraordinary General Meeting of shareholders (EGM) on 5 July 2017. At its previous meeting, the Board of Directors recommended that shareholders approve a dividend in the amount of RUB 2,719.5 million, or RUB 21 per ordinary share (RUB 7 per GDR) from the undistributed net income as of 31 December 2016. The record date for shareholders eligible to receive dividends is was recommended to be set as 17 July 2017.
These decisions were taken at the first meeting of the Board of Directors that was elected by the Annual General Meeting of shareholders on 30 May 2017. The new Board of Directors, more than half of whose members are non-executive directors, includes:
- Sven Ombudstvedt
- Andrey G. Guryev
- Andrey A. Guryev
- Igor Antoshin
- Marcus Rhodes
- James Rogers
- Ivan Rodionov
- Mikhail Rybnikov