The changes made on 5 April 2016 are part of LSR Group’s new strategy, launched last year, to improve returns on investments and broaden our appeal to the investment community.

Changes to theOrganizational Structure and Management Team

Evgeny Yatsyshin has rejoined LSR as First Deputy CEO. He is now responsible for real estate development business in all regions of operations.

Mr. Yatsyshin has more than 20 years’ experience in the Russian real estate and construction industry. 
He worked at LSR from its founding days in 1993 to 2011. He took temporary leave of absence from 2003 to 2005 to serve a term as Chairman of the Construction Committee of St. Petersburg Government.

Aleksandr Vakhmistrov was elected as Chairman of the Board of Directors and also continues as First Deputy CEO.

Changes to the ExecutiveCommittee

The Board of Directors reduced the size of the Executive Committee by more than half to seven people in order to improve the committee’s efficiency.

‘’The Board believes the Executive Committee as a platform for decision making and in-depth discussion of the key business matters would be more effective with a smaller team,’’ said Chairman of the Board Aleksandr Vakhmistrov.

The following have been elected to the Executive Committee:
1. Andrey Molchanov, Chief Executive Officer, Chairman of the Executive Committee
2. Galina Volchetskaya, Executive Director
3. Yuri Ilyin, Chief Commercial Officer
4. Vasily Kostritsa, Deputy CEO (building materials)
5. Andrey Nikitin, Chief Financial Officer
6. Leonid Sorokko, Deputy CEO (construction)
7. Evgeny Yatsyshin, First Deputy CEO (real estate development)

Changes to Board of Directors and Board Committees

Aleksandr Vakhmistrov was elected as Chairman of the Board and Dmitri Gontcharov as Deputy Chairman of the Board.

Two new independent directors, Vitaly Podolsky and Alexander Prisyazhnyuk, were elected to the Board to bring a fresh perspective to LSR Group’s strategy and corporate governance.

Both Mr. Podolsky and Mr. Prisvyazhnyuk have extensive management and board experience at top Russian companies. Mr. Podolsky was CFO in X5 Retail Group and is a board member at several companies including Cherkizovo. Mr. Prisyazhnyuk serves on the boards of leading Russian retailers M.Video and Dixy.

The members of the Board committees are as follows:

Audit Committee:
1. Aleksey Makhnev – Chairman (independent director),
2. Vitaly Podolsky (independent director),
3. Alexander Prisyazhnyuk (independent director).

Human Resources and Compensations Committee:
1. Vitaly Podolsky – Chairman (independent director),
2. Aleksey Makhnev (independent director),
3. Alexander Prisyazhnyuk (independent director).

Strategy and Investments Committee:
1. Andrey Molchanov – Chairman,
2. Dmitri Gontcharov 
3. Vasily Kostritsa,
4. Aleksey Makhnev (independent director),
5. Vitaly Podolsky (independent director),
6. Alexander Prisyazhnyuk (independent director).

For more information please contact:
LSR Group Press Service
E-mail: press@lsrgroup.ru 
www.lsrgroup.ru