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PhosAgro CEO Maxim Volkov Submits Resignation to Board of Directors

19 July 2013
Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that Maxim Volkov has submitted to the Company's Board of Directors his resignation from the position of CEO.

Maxim Volkov has worked at PhosAgro since 2001.  From 2006 to 2012 he headed management company CJSC PhosAgro AG, and from 2009 to present he also served as CEO of OJSC PhosAgro. He is a member of the PhosAgro Board of Directors, where he chairs the Strategy Committee.

The Board of Directors plans to consider Maxim Volkov’s resignation and the appointment of a new CEO by the end of July.  The exact date will be announced in due course.

PhosAgro CEO Maxim Volkov said: “Our employees have always shown determination and have always achieved the goals set before them; I am confident in the Company’s long term potential and have no doubt that our team will continue to achieve sustainable growth for PhosAgro, which is why I intend to remain a shareholder of the Company.  However, I currently intend to focus my efforts on the modernization of the Pikalevo production complex and the acquisition of Pikalevskaya Soda shares.”