Management changes in Cherkizovo GroupMoscow, August 16 2006 - Cherkizovo Group, one of Russia's leading integrated and diversified meat producers, is pleased to announce today the appointment of Joost Gerrits as Chief of Administration of the Group poultry division.
Joost, 57, has over twenty five years experience of managing world leading poultry plants, across countries including the Netherlands, Spain, Libya, Egypt, Kenya, Tunisia, Algeria, Indonesia, Iran, Lebanon and Kuwait. Prior to joining the Group, Joost worked for the past two years as producing director at Stavropolsky Broyler, one of the largest chicken meat producers in Russia. Joost is a graduate from Poultry and Pig Husbandry College in the Netherlands and as Chief of administration, he will be responsible for driving and implementing the strategy for the Group's poultry division.
The Group is also pleased to announce that Artur Minosyants has been appointed to Chief Operating Officer. Artur, 41, has been with Cherkizovo Group since 1996 and has a built a strong career in financial management. He joined the Group as Finance & Economics Director of Biruliovsky meat processing plant and worked in various positions until 2000 when he was appointed First Deputy President for Finance and Economics at AIG Cherkizovsky. In his new role, Artur will oversee Group operations and report directly to Sergey Mikhailov, Chief Executive Officer. Artur is a graduate of the Moscow Plekhanov Institute for the National Economy with a diploma in national economic planning and a PhD in Economics.
Artur replaces Dmitry Pankratov, who has left the Company to pursue his own business interests.
Sergey Mikhailov, Chief Executive Officer of Cherkizovo Group said:
"We are pleased to strengthen our management team with the appointments of Joost and Artur. Joost in particular joins us with considerable experience in poultry production. We are confident that the addition of a professional of this calibre will contribute to the development of the Group's poultry business by helping us grow the business organically, increasing the efficiency of our current production facilities, and by assisting us in identifying high quality assets to acquire."
"Artur has demonstrated his commitment to the business over the past ten years with the Group and we look forward to his contribution as Chief Operating Officer. We also would like to thank Dmitry for his assistance in our Group restructuring effort, and wish him all the best for his future."
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