Magnit Restructures its Real Estate Unit

Krasnodar, April 03, 2020: Magnit PJSC (MOEX and LSE: MGNT; hereinafter – the «Company» or «Magnit»), one of Russia’s leading retailers, announced changes to its real estate and procurement unit.

The Company appointed Maksim Schyogolev as Director for Chain Development, Real Estate, and Maintenance. He will be responsible for establishing and implementing a strategy to manage Magnit’s real estate, efficiently and effectively steering the budget for new openings and store refits, as well as optimizing lease expenses across the entire Chain.

Maksim Schyogolev has over 20 years of experience in retail. Before joining Magnit, he served as the Director for Format Development and Integration at Lenta since 2012, and prior to that, he worked for eight years in O’KEY Group, where, for the most part, he was responsible for store chain development. At earlier stages of his career, Mr. Schyogolev occupied various management positions in companies dealing in electronics and household appliances, including Megatekhnika and Partiya.

As part of the reorganization, Anton Zavalkovsky will head the Procurement and Process Safety Directorate created when Magnit merged the respective departments. The new directorate will also be responsible for the Company’s power generation facilities. Mr. Zavalkovsky’s key objectives will be to establish a long-term procurement strategy aimed at increasing overall quality and achieving better IT integration, take the occupational health and safety system to a whole new level, and improve the Company’s energy efficiency.

Magnit restructures its real estate unit