The Board of Directors Approved Management Change
11 March 2020, Moscow, Russia – PJSC Detsky Mir (“Detsky Mir” or the “Company”, MOEX: DSKY), Russia’s and Kazakhstan’s largest children’s goods retailer, announces that its Board of Directors at a meeting on 10 March 2020 approved the early termination of appointment of Vladimir Chirakhov as the Company’s CEO, to be succeeded by Maria Davydova, Deputy CEO of Commercial Activities.
The Board of Directors passed the following resolutions:
- The early termination of the appointment of Vladimir Chirakhov, CEO of PJSC Detsky Mir effective 2 April 2020.
- The appointment of Maria Davydova as CEO of PJSC Detsky Mir effective 3 April 2020.
- The appointment of Vladimir Chirakhov as Chairman of the Board of Directors of PJSC Detsky Mir effective 3 April 2020.
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For additional information:
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Nadezhda Kiseleva Head of Public Relations Office: +7 495 781 08 08, ext. 2041 Cell: +7 985 992 78 57 nkiseleva@detmir.ru |
Sergey Levitskiy Head of Investor Relations Office: +7 495 781 08 08 ext. 2315 slevitskiy@detmir.ru |
Detsky Mir Group (MOEX: DSKY) is a multi-format retailer and Russia’s and Kazakhstan’s largest specialized children’s goods retailer. The Group comprises the Detsky Mir and the Detmir.ru retail chains, the ELC (Early Learning Centre in Russia) and the ABC retail chains, as well as the Zoozavr pet supplies retail chain. The Company operates a network of 766 Detsky Mir stores located in 293 cities in Russia, Kazakhstan and Belarus, 4 Detmir.ru stores, as well as 49 ELC, 13 ABC and ten Zoozavr stores as of 31 December 2019. Total selling space was approximately 843,000 square meters.
Detsky Mir Group’s shareholder structure as of the date of this announcement is as follows: PJSFC Sistema[1] – 33.38%, Russia-China Investment Fund (RCIF) [2] – 9.0%, free-float – 57.62%.
Lear more at www.detmir.ru, elc-russia.ru, ir.detmir.ru
(1) Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, children’s goods retail, paper and packaging, healthcare services, agriculture, high technology, banking, real estate, pharmaceuticals and hospitality.
(2) RCIF, an equity fund established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC), holds its stake in PJSC Detsky Mir through its funds: Floette Holdings Limited and Exarzo Holdings Limited.