Independent Director Viktor Cherepov Re-elected Chairman of PhosAgro’s Board of Directors
Moscow – The Board of Directors of PJSC PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, re-elected the independent director Viktor Cherepov as its Chairman at its first meeting following the Company’s Annual General Meeting of Shareholders. Alexander Sharabaika was re-elected as Deputy Chairman of the Board of Directors.
Mr Cherepov said: “We continue to make steady progress along our path towards sustainability, implementing a large-scale capital investment programme: more than RUB 200 billion has been invested over the past three years. Thanks to the coordinated efforts of our workforce and close collaboration between the Board of Directors and management, our production performance continues to improve: in the first quarter, output of agrochemical products totalled more than 3.11 million tonnes (up 3.6% year-on-year), a solid foundation for achieving a new all-time production record in 2025. At the same time, our commitment to our employees and all residents of the regions where we operate has always been a top priority. For example, average salaries across the Group’s production sites have risen by two thirds over the past three years, while our support for social initiatives has totalled RUB 40 billion.”
The leadership and composition of the Board’s committees remain unchanged.
At the same meeting, the Board also approved the repurchase of the Company’s exchange-traded bonds from PhosAgro investors in order to further reduce the cost of financing.
Mr Cherepov said: “We continue to make steady progress along our path towards sustainability, implementing a large-scale capital investment programme: more than RUB 200 billion has been invested over the past three years. Thanks to the coordinated efforts of our workforce and close collaboration between the Board of Directors and management, our production performance continues to improve: in the first quarter, output of agrochemical products totalled more than 3.11 million tonnes (up 3.6% year-on-year), a solid foundation for achieving a new all-time production record in 2025. At the same time, our commitment to our employees and all residents of the regions where we operate has always been a top priority. For example, average salaries across the Group’s production sites have risen by two thirds over the past three years, while our support for social initiatives has totalled RUB 40 billion.”
The leadership and composition of the Board’s committees remain unchanged.
At the same meeting, the Board also approved the repurchase of the Company’s exchange-traded bonds from PhosAgro investors in order to further reduce the cost of financing.