Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that the PhosAgro 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.
These decisions were made at the first meeting of the Board of Directors, which was elected today by the annual general meeting of shareholders (AGM). The new Board consists of the following members:
- Igor Antoshin, Advisor to the CEO of PhosAgro
- Maxim Volkov, Chairman of the Management Board and CEO of PhosAgro
- Andrey A. Guryev, Member of the Management Board and Deputy CEO of PhosAgro
- Andrey G. Guryev, Vice President of the Russian Union of Chemists
- Sven Ombudstvedt, Independent Director, CEO of Norske Skog
- Roman Osipov, Member of the Management Board, Director of Business Development of PhosAgro
- Ivan Rodionov, Independent Director
- Marcus Rhodes, Independent Director
PhosAgro Board of Directors Chairman Sven Ombudstvedt said: “We are very pleased that Andrey G. Guryev has joined the Board of Directors. I believe this represents a good balance of interests for all PhosAgro shareholders, and will help the Company to continue successful development. PhosAgro’s traditionally high corporate governance standards will be enhanced by the unique experience and potential that Mr. Guryev brings to the Board.”
PhosAgro’s Board of Directors also appointed members and leadership to the Board Committees. Maxim Volkov was appointed Chairman of the Strategy Committee, the Audit Committee will be chaired by Marcus Rhodes, Ivan Rodionov will lead the Remuneration and Human Resources Committee, while the Environmental, Health and Safety Committee will be chaired by Igor Antoshin.
The Board of Directors also made changes to the makeup of PhosAgro’s Management Board, replacing Director of Business Development Roman Osipov with Deputy CEO for Corporate and Legal Affairs Alexei Sirotenko.