Moscow, December 1, 2014 – Pharmstandard OJSC (LSE: PHST IL, RTS: PHST RU), the leading pharmaceutical company in Russia, announces today that it has received a notice from its Chief Executive Officer, Mr. Igor Krylov, that he wishes to resign from his position as CEO in order to pursue other activities.
Mr. Krylov has lead the Company since its foundation and during 11 years of his service was instrumental in making it a leader in the Russian pharmaceutical market. He guided the Company through many strategic moves including IPO, numerous acquisitions and reorganization.
The Nomination Committee of the Board will immediately commence a search for a successor to Mr. Krylov with a view to making an appointment as soon as possible.
Igor Krylov will remain on the Board of Directors.
Victor Kharitonin, Сhairman, said:
"I would like to thank Igor for his contribution to the successful development of Pharmstandard Group and its superior growth during his 11-years’ service and wish him well with his future endeavors. We will immediately commence an intensive search for a possible successor."
Contacts:
Irina Bakhturina
Head of Investor Relations
Pharmstandard OJSC
Tel: +7 495 970 0030 ext. 2824
E-mail: ir@pharmstd.ru
About Pharmstandard:
Pharmstandard OJSC (www.pharmstd.com) – Russia’s leading pharmaceutical Company that develops and manufactures high-quality modern pharmaceutical products which meet the requirements of the healthcare system and the expectations of patients.
The Company’s production assets consist of 8 pharmaceutical plants located in Kursk, Ufa, Tomsk, Vladimir and in Ukraine’s Kharkov and 1 medical equipment plant in Tyumen.
Pharmstandard shares and GDRs are traded on the RTS-MICEX and LSE, respectively.
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