RURIC INITIATES ORGANISATIONAL CHANGE

Press release 06-03-2012 Move of CFO office to St Petersburg, new CFO appointed. In a move to increase the focus on financial control of operations, Management of Ruric has decided to move the office of the CFO to St Petersburg. This will ensure the successful implementation of the new financial management systems as well as new more disciplined budgetary processes...

Press release 06-03-2012

 

Move of CFO office to St Petersburg, new CFO appointed.

 

In a move to increase the focus on financial control of operations, Management of Ruric has decided to move the office of the CFO to St Petersburg. This will ensure the successful implementation of the new financial management systems as well as new more disciplined budgetary processes.

 

In this context Ruric regrettably has had to accept the resignation of Mr Anders Larsson, the current CFO, who for family reasons will not be able to make the move to Russia. He will of course be fully accessible during a transition period to introduce the new CFO into the Company.

 

We are pleased to announce that effective immediately Mr Denis Savinkin will take up the position as new CFO of Ruric. Mr Savinkin is an honours graduate in Economics and Finance from the St Petersburg State University with a background as chartered certified accountant with PricewaterhouseCoopers. His most recent position has been as CFO of the consumer products company Bravo Premium and as deputy CFO of the London Stock Exchange listed LSR Group. Mr Savinkin is 32 years old, native from St Petersburg and speaks English fluently.

 

Mr Adam Fischer, Ruric's CEO, in a comment: "I am very pleased of being able to announce such a smooth transition of the CFO from Stockholm to St Petersburg. We will certainly miss Anders' expertise, but I know that he is the first one to acknowledge the need for the move to St Petersburg. I am delighted that Denis Savinkin has accepted the position and am convinced that he will make a significant contribution to Ruric's future within a very short period of time. We wish him a warm welcome aboard."

 

Russian Real Estate Investment Company AB (publ)

 

For additional information

Adam Fischer, CEO

Phone                 +46 8 509 00 101

email                   [email protected]

web                     www.ruric.com

 

ABOUT RURIC
Ruric's business strategy is to manage real estate in the centre of St Petersburg. In addition Ruric shall also acquire real estate and implement value creating additional investments at attractive conditions. Through professional management and good tenant relations spaces of high class are offered to tenants looking for possible spaces in central locations willing to pay for it. Ruric offers primarily office- and retail premises.

 

Ruric's Certified Advisor at First North is Erik Penser Bankaktiebolag.

Copyright Thomson Reuters

Attachment(s)
http://hugin.info/141656/R/1591648/500300.pdf

Regulatory News
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: %s via Thomson Reuters ONE


[HUG#1591648]