Press release: Xavier Rolet Nominated for PhosAgro Board

Moscow – Xavier Rolet has been nominated as a candidate for election to the Board of Directors of PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, by the Annual General Meeting of Shareholders scheduled for 30 May 2018.

 

The list of candidates for the new Board of Directors was reviewed at a recent meeting of the Remuneration and Human Resources Committee of the Board of Directors of PhosAgro as part of a discussion on the assessment of professional qualifications and independence of candidates nominated to the Board of Directors.

 

In addition to Xavier Rolet, who has not previously served as a member of the Company’s Board of Directors, the other candidates who have been nominated as Independent Directors on the basis of their strong reputation among investors are Sven Ombudstvedt, Chairman of PhosAgro’s Board of Directors; Marcus Rhodes, Chairman of the Audit Committee of PhosAgro’s Board of Directors; Irina Bokova, the first female Director-General of UNESCO, who held this position for two four-year terms from 2009 to 2017; legendary international investor Jim Rogers; world-renowned scientist Natalia Pashkevich; and Andrey Sharonov, who has extensive experience both in government and the investment business.

 

Xavier Rolet successfully headed the London Stock Exchange Group (LSEG), Europe’s leading exchange group, for nine years. Under his leadership, LSEG successfully implemented a strategy that developed the exchange as a global financial institution and established a strong management team. Under Xavier’s leadership, LSEG has become a truly diversified player in the global financial infrastructure, whose market capitalisation has grown from £800 million to £14 billion. In 2017, the Harvard Business Review included him in their list of the best-performing CEOs in the world.

 

Xavier, with his extensive professional experience, would strengthen the Company’s Board of Directors, helping to further diversity the mix of skills and experience its members bring. He will also contribute to the further improvement of PhosAgro’s corporate governance system. The Company intends to continue to develop its corporate governance in line with global best practices.

 

PhosAgro CEO Andrey Guryev said: 

 

“We would be delighted to welcome Xavier Rolet to the Board of Directors. Under his successful leadership, Europe’s leading stock exchange significantly increased its market capitalisation. He has invaluable capital markets experience thanks to his long tenure at the head of a large international financial institution with a UK listing. His exceptional knowledge of best practices in corporate governance and information disclosure for financial markets would also be useful to our company.”