Etalon Group announces changes to Board of Directors

MOSCOW: Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies, announced changes to the membership of its Board of Directors.

Etalon Group’s Board of Directors has accepted the resignation of the independent director Martin Cocker from the Board and its committees. Mr Cocker had served as Chairman of the Board’s Audit Committee and was also a member of the Board’s Remuneration and Nomination Committee.

In order to comply with best corporate governance practices Etalon Group plans henceforth to maintain a balanced Board structure with broad representation of independent directors.

Taking the recent changes into account, the current membership of the Board of Directors and its committees is outlined below.

Etalon Group Board of Directors:

·   Sergey Egorov, Chairman of the Board of Directors, non-executive director

·   Gennadiy Shcherbina, Chief Executive Officer of Etalon Group

·   Maxim Berlovich, executive director

·   Oleg Mubarakshin, non-executive director

·   Dennis Vinokourov, non-executive director

·   Alexander Voloshin, independent non-executive director

·   Boris Svetlichny, independent non-executive director

·   Marina Ogloblina, independent non-executive director

·   Ganna Khomenko, independent non-executive director

·   Charalampos Avgousti, independent non-executive director

Strategy Committee:

·   Maxim Berlovich, Chairman

·   Sergey Egorov, non-executive director

·   Gennadiy Shcherbina, Chief Executive Officer of Etalon Group

·   Oleg Mubarakshin, non-executive director

·   Dennis Vinokourov, non-executive director

·   Artyom Zasursky, Vice President for Strategy and Development at PJSFC Sistema

·   Marina Ogloblina, independent non-executive director

Remuneration and Nomination Committee:

·   Sergey Egorov, Chairman

·   Oleg Mubarakshin, non-executive director

·   Ganna Khomenko, independent non-executive director

·   Charalampos Avgousti, independent non-executive director

Audit Committee:

·   Boris Svetlichny, independent non-executive director

·   Ganna Khomenko, independent non-executive director

Investor Relations and Information Disclosure Committee:

·   Petr Kryuchkov, Chairman

·   Dennis Vinokourov, non-executive director

·   Boris Svetlichny, independent non-executive director

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