Krasnodar, Russia (February 20, 2024): Magnit PJSC (MOEX: MGNT; the Company, Magnit), one of Russia’s leading retailers, announced the appointment of Konstantin Izmaylov as CEO of Magnit Market — a marketplace that the Company is setting up on the basis of the recently acquired online platform KazanExpress.

Konstantin Izmaylov will be responsible for creating and implementing the strategy for Magnit Market, establishing an attractive value proposition, and developing the platform infrastructure and scaling it across Magnit’s geography. His remit will also cover setting up an efficient and effective marketplace business and capturing synergies with Magnit's core business. The integration of KazanExpress as well as the rebranding of the platform under the new Magnit Market brand will continue under his tenure.

Konstantin Izmaylov has vast experience in the tech business. In the last seven years, he held senior positions in leading Russian e-commerce companies. Prior to joining Magnit, he worked as the Chief Data Officer (CDO) at Yandex.Lavka. Before that, he held a similar office at Delivery Club, where he was responsible for integrating the business with the Yandex.Eats service. Konstantin Izmaylov also provided guidance to several e-grocery startups and companies around the world on multiple occasions.

At Magnit, Konstantin Izmaylov will report to Guvenc Donmez, the Company’s Chief E-Commerce Officer. The founder and former CEO of KazanExpress, Linar Khusnullin, has decided to leave the Company and focus on his own projects.

Magnit acquired KazanExpress in November 2023 and started integrating this platform to launch the Company’s own marketplace under the name Magnit Market.

Guvenc Donmez, Magnit’s Chief E-Commerce Officer:

“We have an ambitious task ahead of us — to bring the offering for Magnit customers to the next level in terms of quality — and Magnit Market is a key tool for achieving that. I am grateful to Linar Khusnullin for his contribution to the preparation for the launch of Magnit Market and glad to welcome Konstantin as the leader of our marketplace. I am sure that his deep knowledge of the Russian e-commerce market, extensive international expertise, and data-driven approach to business development will enable us to create a Russian marketplace with the best service and price proposition on the market. I wish him the best of luck!”

Konstantin Izmaylov, Chief Executive Officer of Magnit Market:

“I am happy to join the Magnit team to help tackle a set of very ambitious challenges related to the launch and scaling of Magnit Market. The marketplace segment is highly competitive, but it only adds interest to my job, which is to create a unique offering for customers, gradually expanding the geography and market share of Magnit Market while developing its high-tech platform and ensuring proper unit economics to serve the interests of all Magnit stakeholders.”

Magnit Appoints CEO for Magnit Market