e-elected
Re-elected as Chairman of PhosAgro’s Board of Dir
The Board of Directors of PhosAgro, a leading global producer of phosphate-based fertilizers listed on the Moscow Exchange and LSE under PHOR, re-elected independent director Viktor Cherepov as Chairman at its latest meeting following the Annual General Meeting of Shareholders. Alexander Sharabaika was also re-elected as Deputy Chairman of the Board.
Mr. Cherepov expressed his appreciation for the collaborative efforts of the workforce and the effective partnership between the Board and management in advancing PhosAgro’s long-term growth strategy and substantial capital investment program. This year, the company plans a record investment of RUB 73 billion, supporting continued production growth. Preliminary data indicates a 3.6% increase in agrochemical production during the first half of this year.
PhosAgro remains committed to sustainability, enhancing working conditions, and fostering employee development, as evidenced by a 60% rise in average salaries at production sites over the past three years, with an additional 15% indexed since February 2024. The company has also significantly increased support for social and charitable initiatives, allocating over RUB 25 billion for these purposes between 2022 and 2023, underscoring its commitment to community development in regions of operation.
During the meeting, chairmen and members were approved for various Board committees: Mr. Cherepov continues as Chairman of the Audit Committee, Siroj Loikov was elected Chairman of the Remuneration and Human Resources Committee, and Mr. Sharabaika retained his role as Chairman of the Strategy and Sustainable Development Committee. Sergey Samosyuk was re-elected as Secretary of the Board of Directors.
The Board affirmed that the current committee memberships align perfectly with the company’s objectives and operational goals, given PhosAgro’s scale and risk level, thereby concluding that there is no immediate need to establish additional Board committees.
