Press release
10 May 2016
O'KEY GROUP ANNOUNCES APPOINTMENT OF ANTON FARLENKOV AS STRATEGY AND M&A DIRECTOR
O'KEY Group S.A (LSE: OKEY), a leading food retailer in Russia, today announced the appointment of Anton Farlenkov as Strategy and M&A Director. In this capacity, he will have the lead responsibility for advising the Board of Directors on determining the strategic direction of the company and overseeing the implementation of its development plan across formats, as well as broadening Group's communications with the international business and investment community.
Anton Farlenkov joined O'KEY Group from Goldman Sachs, where he was running EEMEA equity research team and for over 9 years worked as senior equity research analyst covering the consumer retail and transportation logistics sectors. Prior to joining Goldman Sachs Anton held different commercial and IT related positions in Royal Dutch Shell (the Netherlands) and Infoshare (the US).
Heigo Kera, CEO and Chairman of the Board of Directors of O'KEY Group, said:
"As we remain strongly committed to our hypermarket format offering best-in-class assortment and customer experience in Russia, while dynamically rolling out our discount store chain, our organization is facing the crucial task of learning how to effectively operate and grow as a multi-format operator. For many years, Anton has been recognized by leading international investors as the authoritative expert on the EEMEA retail industry, and we are counting on his skills and expertise to substantially raise our game at O'KEY. Anton will have the full support of the Board and the top management of O'KEY in his tasks of furthering the ongoing transformation of our business model into a multi-format operator, enhancing our operating efficiency, accelerating our growth and deepening our relationships with investors."
Armin Burger, CEO of Discounter Chain, commented:
"As we are transforming the retail landscape in Russia with the build-out of the unique discounter format, it is critical that we find the right way to integrate it in the overall Group's business model. I look forward to working closely with Anton on developing and implementing a coherent strategy of multi-format Group growth."
Anton Farlenkov, O'KEY's newly appointed Strategy and M&A Director, said:
"The current environment poses substantial challenges, but also presents tremendous opportunities for O'KEY. It is great to be joining the Company at such an interesting time, and I am really excited to start working with the Board of Directors, senior management team, and all of the people at O'KEY on delivering on our strategic goals and building value for our shareholders."
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COMPANY OVERVIEW
O'KEY is one of the largest retail chains in Russia. Its primary retail format is the modern Western European style hypermarket under the "O'KEY" brand reinforced by O'KEY supermarket. The Group is developing the innovative discounter format under the DA! brand. O'KEY is the first among Russian food retailers to launch e-commerce operations in St. Petersburg and Moscow based on hypermarket assortment.
The Group opened its first hypermarket in St. Petersburg in 2002 and has demonstrated continuous growth ever since. As of 31 March 2016, O'KEY operates 148 stores across 49 cities in Russia: 70 hypermarkets with an aggregate trading space of 514,976 м², 37 supermarkets with an aggregate trading space of 48,215 m2 and 41 discounters with an aggregate trading space of 29,700 m2. O'KEY employs around 26,000 people as of 31 March 2016.
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For further information please contact:
Nikolay Minashin, Head of Investor Relations
Ph. +7(495)663-6677, ext. 127
e-mail: Nikolay.Minashin@okmarket.ru
This information is provided by RNS