Executive bodies
Management Board
The Management Board is the collegial executive body of PJSC “Magnit,” which, along with the CEO (Chairman of the Company’s Management Board), manages its day-to-day activities. The Management Board reports to the General Meeting of Shareholders and the Board of Directors.
The Management Board acts on the basis of the Russian legislation, the Charter, and the Regulation on the Management Board, which is approved by a resolution of the General Meeting of Shareholders.
The Board of Directors makes decisions on its size and membership as well as the election and early termination of the powers of its members each year at its first meeting after the Annual General Meeting of Shareholders.
The Company’s CEO is a member of the Management Board by virtue of his/her position and serves as the Chairman of the Management Board. The powers of the Chairman of the Management Board are terminated once his/her powers as the Company’s CEO cease.
The Management Board handles the day-to-day management of the Company’s activities, except for matters that fall within the purview of the General Meeting of Shareholders and the Board of Directors. In those instances, the Management Board organizes the implementation of their resolutions. The Company’s Charter and the Regulation on the PJSC “Magnit” Management Board contain more detailed information on the powers of the Management Board.
CEO
In accordance with the Charter of PJSC “Magnit,” the Company’s CEO is granted all the necessary powers to carry out the operational management of the Company’s day-to-day activities and resolve relevant issues that do not fall within the purview of the Company’s General Meeting of Shareholders, Board of Directors, or Management Board.
The Company’s CEO manages the Company’s activities in accordance with the provisions of the Company’s Charter, the requirements of the legislation of the Russian Federation, and the Company’s internal documents.
Per the resolution of the Board of Directors dated June 21, 2018, Olga Naumova was elected CEO of PJSC “Magnit” on June 22, 2018 for a term of 3 years.
Olga Naumova’s biography is given in the “Management Board Members” section.
Members of the Management Board as of 12/31/2018
Date of birth: June 30, 1972
Education:
- Higher education. 1994 – Faculty of Sociology of Moscow State University (Marketing).
Experience
Olga Naumova started her career as the Head of ALT consulting company’s Moscow branch from 1993 to 1994 (headquarters in St. Petersburg). From 1994 to 2000 Olga worked in the IBS group of companies as the Head of Marketing at the “D-Line” company followed by the position of General Director of the “Computer Depo” company. In 2000 and 2001 Olga was the Commercial Director of Russian Product company. In 2001, she joined Cherepovets Steel Plant of PJSC “Severstal” as the Business Development Director and in 2002-2006 she was its General Director. In 2003-2003 Ms. Naumova was the Head of OJSC “Oryol Steel Fabrication Plant” of PJSC “Severstal”. In 2004 she was the Head of the “Severstal-metiz” Group and later – the Head of JSC “Severstal-metiz”.
In 2009, Olga Naumova served as the Director for Long Products at Novolipetsk Steel and in December 2009 she became the General Director of the newly established NLMK-Long Products, LLC. From 2010 to 2013 Olga served as the General Director of Rimera the oilfield services division of Chelyabinsk Pipe-Rolling Plant.
In May 2013, Olga Naumova was appointed the General Director of the “Pyaterochka” format at X5 Retail Group and she stepped down from this position in April 2018.
On May 16th, 2018 Olga joined Magnit as an Executive Director. From June 22, 2018 and until present she occupies the position of the Chief Executive Officer and the Chairman of the Management Board of PJSC “Magnit”.
Participatory interest in the Company’s charter capital: Does not own any interest
Participatory interest in the Company’s charter capital: Does not own any interest
Percentage of the Company’s ordinary shares owned by this person: Does not own any interest
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: the person did not conclude any transactions to acquire/dispose of the Company’s shares during the reporting period.
Date of birth: December 25, 1976
Education:
- Higher education. 2000 – International Academy of Business and Banking (Economics).
- 2002 – Association of Certified Accountants (ACCA), London (Certified Accountant).
Experience
In 2000-2004, Elena Milinova worked at the Russian office of PricewaterhouseCoopers, an international audit company, in 2004-2007 she was employed with at Geotransgaz and Sollers ST.
In 2007-2014, Elena headed the financial unit of KAMAZ PJSC as the deputy general director and member of the group's board, in 2014-2016, she worked as the general financial director of Х5 Retail Group.
In August 2017, Elena Milinova became a financial director of Mega Farm pharmacy chain (member of Marathon Group), and in December, she was appointed the director for economy and finance of Marathon Group.
From April 2018 until present occupies a position of the Chief Financial Officer of PJSC “Magnit”. Elena was appointed a member of the Management Board of PJSC “Magnit” on June 22, 2018.
Participatory interest in the Company’s charter capital: 0.000599%.
Percentage of the Company’s ordinary shares owned by this person: 0.000599%.
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: the person did not conclude any transactions to acquire/dispose of the Company’s shares during the reporting period.
Date of birth: December 13, 1973
Education:
- Higher education. 1996 – Lomonosov Moscow State University (Mathematics)
Experience
During the period of 1998 to 2002, Tatyana Knyazeva headed the HR department of the East Line Company. From 2002 to 2008, she held various senior HR positions at “Rosgosstrakh”. From 2009 to 2011, she was employed by Oranta Eureko as the Director of HR, during the years of 2013 to 2014, she worked as HR Director of “Domodedovo” airport. From 2014 to 2017, Ms. Knyazeva worked as HR Director of “Pyaterochka” retail chain.
In May 2018 Tatyana Knyazeva was appointed a Head of HR Directorate. Tatyana is a member of the Management board of PJSC “Magnit” from June 22, 2018.
Participatory interest in the Company’s charter capital: 0.000098%.
Percentage of the Company’s ordinary shares owned by this person: 0.000098%.
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period:
- November 12, 2018 – Acquisition of ordinary registered shares (39 shares)
- November 12, 2018 – Acquisition of ordinary registered shares (41 shares)
- November 12, 2018 – Acquisition of ordinary registered shares (10 shares)
- November 12, 2018 – Acquisition of ordinary registered shares (10 shares)
Date of birth: December 10, 1970
Education:
- Higher education. 2002 – Moscow State Law Academy (Law).
Experience
Elena Zhavoronkova joined Magnit in June 2018 as a Director for Legal Affairs and Corporate Governance. On June 22, 2018 she was appointed a Member of the Management Board. Previously, she served as a Vice President for Legal Affairs in Polyus Gold. In 2010-2014 Elena held a similar position in Evraz. From 2008 to 2010 Elena headed the legal department in United Industrial Corporation. In 2000-2008 worked her way from legal consultant to the head of legal department in TMK.
Participatory interest in the Company’s charter capital: 0.001472%.
Percentage of the Company’s ordinary shares owned by this person: 0.001472%.
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: the person did not conclude any transactions to acquire/dispose of the Company’s shares during the reporting period.
Date of birth: April 27, 1970
Education:
- Higher education; 1997 – Academy of Labor and Social Relations (Moscow) (Economics);
- 2006 – Nizhny Novgorod Institute of Management and Business (MBA Master of Business Administration);
- 2006 – ISPS Center for Social and Pedagogical Education RAO (Management);
- 2011 – Volga-Vyatka Academy of Public Administration (State and Municipal Administration. Psychology of Management).
Experience
In 2000, Artyom Smolenskiy started his career in retail at Polaris Computing Center chain. Then he worked at Dixy Group for five years as the Head of Sales. In 2010-2011, Mr. Smolenskiy was the Head of FMCG “Raytsentr” chain in Nizhny Novgorod. From 2011 to 2014, he was Managing Partner in Noretek Group. During the period of February, 2014 to May, 2018, Mr. Smolenskiy held various senior positions in operational management at the “Pyaterochka” retail chain.
On May 16, 2018 Artyom Smolenskiy was appointed a Deputy Chief Executive Director, Operations. He is a member of the Management Board of PJSC “Magnit” from June 22, 2018.
Participatory interest in the Company’s charter capital: 0.003098%.
Percentage of the Company’s ordinary shares owned by this person: 0.003098%
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: the person did not conclude any transactions to acquire/dispose of the Company’s shares during the reporting period.
Date of birth: May 21, 1980
Education:
- Higher education. 2002 – Krasnodar Military Institute (Information Protection Organization and Technology).
Experience
In 2007-2019 Evgeny made his way from a specialist to the Director of Information Security in Magnit. In 2018 headed the IT and Information Security Directorate. On October 17, 2018 Evgeny was appointed a member of the Management Board of PJSC “Magnit”.
Participatory interest in the Company’s charter capital: Does not own any interest
Percentage of the Company’s ordinary shares owned by this person: Does not own any interest
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: the person did not conclude any transactions to acquire/dispose of the Company’s shares during the reporting period.
Changes to the Management Board
In early 2019, the Board of Directors approved the enlargement of the Management Board to ten members as part of its efforts to support the effective delivery of the operational and financial goals of the Company. The following new members were elected to the Management Board:
- Vladimir Sorokin took over as Deputy CEO and Commercial Director on January 16.
- Jan Dunning took over as President (Member of the Management Board) on January 29.
- Jyrki Talvitie took over as Director of Strategic Communications on February 4.
- Maria Dei took over as Supply Chain Director on February 13.
Date of birth: December 5, 1959
Education:
- Higher education. 1983 – University of Groningen (Bachelor’s Degree);
- 1989 – University of Amsterdam;
- 2007 – London Business School;
- 2008 – Insead Marketing Program
Experience
Jan Dunning was Operations Director of Metro Cash & Carry Russia and then General Manager of Metro Cash & Carry Ukraine. Jan’s previous experience also includes three years as General Manager of the Lukas Klamer wholesale business, a subsidiary of the Metro Group in the Netherlands, and over ten years with Aldi North. Over the last 25 years, he has worked in a broad range of retail functions including leadership roles in operations, development, sales, marketing, purchasing and finance.
In 2011-2018, Jan worked as a Chief Executive Officer of Lenta.
In January 2019 Jan was appointed a President of PJSC “Magnit” and a member of the Management Board.
Participatory interest in the Company’s charter capital: Does not own any interest
Percentage of the Company’s ordinary shares owned by this person: Does not own any interest
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: N/A as he was not a member of the PJSC “Magnit” Management Board during the reporting period
Date of birth: April 1, 1971
Education:
- Higher education. 1994 – St. Petersburg State University of Trade and Economics (Engineering);
- 2005 – Higher School of Economics (Finance).
Experience
From 1994 to 2000 Vladimir Sorokin worked in the “Gillette” company, having passed the way from the sales manager to the Sales Director of the European part of Russia and Belarus. In 2000-2003 he continued working in the FMCG sector as the Sales Director of Sun Interbrew. From 2003 to 2011 he headed the business unit of the SK “AlfaStrakhovanie”, he was the CEO of “AlfaStrakhovanie – Life”. In 2010-2012 Mr. Sorokin worked as the CEO of OJSC “Masshtab”. In 2013 he joined X5 Retail Group as the Deputy Commercial Director. In June of the same year he became the Category Management Director of Pyaterochka Retail Chain. From September 2014 to June 2018 he was the Head of CJSC “TD “Perekrestok”.
On January 15, 2019 Vladimir joined Magnit management team as a Deputy Chief Executive Officer - Commercial Director, and a member of the Management Board of PJSC "Magnit".
Participatory interest in the Company’s charter capital: 0.001962%
Percentage of the Company’s ordinary shares owned by this person: 0.001962%
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: N/A as he was not a member of the PJSC “Magnit” Management Board during the reporting period
Date of birth: April 2, 1966
Education:
- Higher education. 1991 – Helsinki University (Master of Law);
- 2002 –London Business School (MBA)
Experience
Jyrki Talvitie held managerial positions in some of the largest Western banks: Bank of New York, Nordea Bank and BNP Paribas. Over the past 20 years he focused on the Russian and ex CIS markets. From 2003 to 2005 Jyrki was responsible for the International Business of Uralsib Financial Corporation. During the period of 2005-2010 he headed the Russian office of East Capital investment company. From 2010 to 2014 he held a position of senior vice president at VTB Bank and was responsible for investor relations. In 2014-2016, Mr. Talvitie was responsible for strategic communications at the Russian Direct Investment Fund. In 2016-2018, he continued working in relations with strategic partners and investors area in Sberbank as Vice president. Since 2018, he has been a member of the Supervisory Board of Georgia Capital.
Jyrki joined Magnit in February 2019 as a Director for Strategic Communications and a member of the Management Board.
Participatory interest in the Company’s charter capital: Does not own any interest
Percentage of the Company’s ordinary shares owned by this person: Does not own any interest
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: N/A as he was not a member of the PJSC “Magnit” Management Board during the reporting period
Date of birth: October 26, 1983
Education:
- Higher education. 2005 – All-Russian State Tax Academy of the Ministry of Taxation and Fees of the Russian Federation (Economics)
Experience
From 2008 to 2016 Ms. Dei occupied different managerial positions of supply and sales planning departments in such companies as Unilever Rus LLC, CAMPARI RUS LLC, Bacardi Rus LLC.
From 2017 to 2018 Ms. Dei served as Operational Planning Director in Central Office of Pyaterochka store network (X5 Retail Group).
Maria Dei joined Magnit in June 2018 and currently occupies a position of a Supply Chain Director and a Member of the Management Board of PJSC “Magnit”.
Participatory interest in the Company’s charter capital: Does not own any interest
Percentage of the Company’s ordinary shares owned by this person: Does not own any interest
Information about transactions to acquire/dispose of the Company’s shares concluded by a person serving as a member of the Management Board over the reporting period: N/A as she was not a member of the PJSC “Magnit” Management Board during the reporting period