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alt image

Igor Babaev re-elected as Chairman of the Board of Directors of Cherkizovo Group

30 july 2012

Company reports state that the Board of Directors of Cherkizovo Group, one of the largest Russian meat producers, has re-elected company founder Igor Babaev as Chairman of the Board. The Board of Directors has also re-elected members of the committees on audit, nominations and compensations, investments and strategic planning.

At the Annual General Meeting on 29th June, shareholders of Cherkizovo Group also elected Sergei Mikhailov as the General Director of Cherkizovo Group, Evgeny Mikhailov as the Head of the Projects and Investment Department and Musheg Mamikonian, Samuel Lipman Marcus Rhodes and Vitaliy Podolskiy as Independent Directors.

Cherkizovo Group is an agro-industrial company with a full production cycle from feed to finished meat products. The Group consists of six meat-processing plants, seven poultry complexes for the manufacture and processing of poultry meat, ten pig farms, feed mills and also a network of trading houses. The portfolio of Cherkizovo brands include Petelenka, Chicken Kingdom, Cherkizovsky and Empire of Taste. The beneficiaries of Cherkizovo Group are Igor Babaev and his family members. The GDR of the Group are traded on the London Stock and exchange equities on MICEX-RTS. At the end of 2011, the company increased its net profit for the US GAAP by 2% to US $147.8 million and revenues increased by 24% to US $1.473 billion.

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