Independent Director Sven Ombudstvedt Reappointed as Chairman of PhosAgro Board of Directors
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors at a meeting on 16 October 2014 re-appointed the Independent Non-Executive Director Sven Ombudstvedt as its Chairman. Russian Union of Chemists Vice President Andrey G. Guryev was elected as the Deputy Chairman of the Board of Directors.
PhosAgro’s Board of Directors also appointed members and leadership to the Board Committees. The Audit Committee and Remuneration and Human Resources Committee will be chaired by Board members Marcus Rhodes and Jim Rogers, respectively. Board member Ivan Rodionov will chair the newly-created risk management committee.
PhosAgro CEO and Board member Andrey A. Guryev was appointed Chairman of the Strategy Committee, while the Environmental, Health and Safety Committee will be chaired by Board member and Advisor to the CEO Igor Antoshin.
PhosAgro CEO Andrey Guryev said: “PhosAgro’s adherence to best practice in corporate governance is once again confirmed by the fact that the Audit Committee and the Remuneration and Human Resources Committee are made up entirely of Independent Directors.”