ROS AGRO PLC announces the successor to the CEO of Rusagro
From 1 January 2022, Timur Lipatov will become Rusagro's Chief Executive Director. Contract of Maxim Basov, current CEO, will expire on 31 December 2021.
At Rusagro Mr. Lipatov will focus on improvement of business operational efficiency through increase of processes efficiency, costs optimization, production culture development and implementation of digitalization strategy. Moreover, he will continue to expand global presence and product mix of the Company.
Vadim Moshkovich, Rusagro's founder and the Chairman of the Board of Directors comments on the coming changes, "Together with Maxim Basov we have successfully built a company with leading positions on the market and among top-50 most quickly growing companies in Russia. However, today Rusagro operates on consolidated and highly competitive markets. Hence, we need to dedicate more efforts on improving internal efficiency, which will allow us to sustain growth of the Company's value. I expect that Rusagro's team headed by Timur will foster the creation of fundamentally new products to fulfill the mission of the Company - Make the live of the people longer and better."
Timur Lipatov has great experience in large Russian and international industrial companies with high production culture. He has been working in Rusagro since 1 September 2021. Before that Mr. Lipatov headed OJSC Power Machines Machiny (Siloviye Mashiny) from 2018 to 2021 and from 2015 to 2018 he was CEO of JSC Inter RAO UES - Management of Electrogeneration. Under his management these companies demonstrated growth of financial and operational results. Previously, Mr. Lipatov held top positions at such companies, as E.ON Russia, OGK-3 and OGK-5, as well as Technopromexport.
Timur graduated with honors from National Research University "Moscow Power Engineering Institute" and International Independent University of Environmental and Political Sciences and received two specializations - in heat power and management. In 2012, he received MBA degree from European School of Management and Technology, Berlin, Germany.
ABOUT ROS AGRO PLC
ROS AGRO PLC (LSE, MOEX: AGRO) - a holding company of Rusagro Group, a leading Russian diversified food producer with vertically integrated operations in the following branches:
Rusagro currently controls one of the largest land banks among Russian agriculture producers, with 691 thousand hectares of land under control located in the highly fertile Black Earth region of Russia (in the Belgorod, Tambov, Voronezh, Kursk, Orel regions), in Saratov regionand in the Far East Primorye Region. Land and production sites are strategically located within
the same regions to optimize efficiency and minimize logistical costs. Rusagro is one
of the major sugar beet producers in Russia, but it also produces wheat and barley, sunflower seeds and soybeans. These products are partially consumed by the Meat segment, supporting a synergistic effect and lowering price change risk.
Oil and Fat Segment
Rusagro is the leading crude sunflower oil and consumer margarine producer, second largest industrial fats and mayonnaise producer in Russia with products sold under eleven key brands, such as EZhK, Schedroye Leto, Mechta Khozyaiki, umbrella brand Ya Lublu Gotovit (includes Moskovskiy Provansal, Novosibirskiy Provansal and Saratovskiy Provansal), Rossiyanka and Saratovskiy Slivochniy, Benefitto, Maslava and Leto Krasno (红色夏日), which is sold on the Chinese market. Rusagro also produces dry industrial mixes, cheeses, butter and cream sold under three brands: Milie, Syrnaya Kultura and Ya Lublu Gotovit. Rusagro owns four crushing and two oil & fats plants and leases two milk processing plants. Owning its sunflower and soy oil production allows Rusagro to control the source of the sunflower and soybean oil required to produce oil and fats products.
Rusagro is one of the leading Russian sugar producers (№2 in Russia and №1 on cube white sugar market), producing sugar from sugar beet at nine production sites in four regions. Group produces white and brown sugar sold under the brands Russkii Sakhar, Chaikofsky, Mon Cafeand Brauni. The Sugar segment is vertically integrated and sugar beets are supplied by Rusagro's Agriculture segment, which ensures a consistent supply. The sugar segment also operates a cereal plant and sells buckwheat and rice under the brand Tyoplye Traditsii.
Rusagro is №3 largest pork producer in Russia in Russia. It operates large commercial pig breeding complexes adhering to best practices regarding biosecurity standards, nucleus farms, compound feed plants, slaughterhouses and meat processing plants in Tambov and Belgorod Regions and in the Russian Far East. Since 2016, Rusagro sells retail products under its own brand Slovo Myasnika (Butcher's word).
IR & ESG Director
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