– RUSSIA, Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors at a meeting on 16 September 2014 re-appointed the Independent Non-Executive Director Sven Ombudstvedt as its Chairman.
Russian Union of Chemists Vice President Andrey G. Guryev was elected as the Deputy Chairman of the Board of Directors.
PhosAgro’s Board of Directors also appointed members and leadership to the Board Committees. The Audit Committee and Remuneration and Human Resources Committee will be chaired by Board members Marcus Rhodes and Jim Rogers, respectively. Board member Ivan Rodionov will chair the newly-created risk management committee.
PhosAgro CEO and Board member Andrey A. Guryev was appointed Chairman of the Strategy Committee, while the Environmental, Health and Safety Committee will be chaired by Board member and Advisor to the CEO Igor Antoshin.
PhosAgro CEO Andrey Guryev said: “PhosAgro’s adherence to best practice in corporate governance is once again confirmed by the fact that the Audit Committee and the Remuneration and Human Resources Committee are made up entirely of Independent Directors.”
PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers. The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second largest MAP/DAP producer in the world (excluding China), according to Fertecon.
PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company’s mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.
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