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Global Ports Inv - Global Ports announces departure of CEO

Thu 25th June, 2020 8:10am
RNS Number : 0620R
Global Ports Investments PLC
25 June 2020
 

 

 

For immediate release                                                                                                                     25 June 2020

Global Ports Investments PLC

Global Ports announces departure of Vladimir Bychkov, Chief Executive Officer

Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its wholly-owned subsidiaries and joint ventures, the "Group") (LSE ticker: GLPR) today announces that Vladimir Bychkov, Chief Executive Office of Global Ports Management LLC, will depart from the Company effective July 15th, 2020. The Board has begun a process to select a successor and a further announcement will be made in due course.

Mr. Bychkov joined Global Ports Investments Plc in July 2018. During his two-year tenure as Chief Executive Officer he carried out a profound transformation of the Company and led the development of the new strategy.

"In the beginning of his employment a number of strategic goals were set for Vladimir Bychkov as the new CEO. The Board of Directors required a shift towards centralised client-oriented business, modern digital technology and increase of operational efficiency, all of which had to become the blocks of the new strategy of the Company. Under Vladimir's leadership the Company finalised the process of centralisation, introduced ERP system and regained its position as the market leader. Vladimir has rebuilt the corporate culture and we now have a forward-looking modern Company", said Soren Sjostrand Jakobsen, Chairman of the Board of Directors.

"Vladimir received a difficult task to reform the Company and having successfully fulfilled his mission, he is ready to step down as the strategic and transformational CEO while the Company will shift its focus onto new strategy execution, further increase of operational efficiency and customer satisfaction, all of which will be set as main tasks for the successor", commented Sergey Shishkarev, Chairman of the Board of Directors of Management Company "Delo".

Mr. Bychkov said "I have been privileged to lead the Company through a complex transformation process and am proud of everything we have accomplished together with the Global Ports team and shareholders' support. I am now ready to hand in the Company to my successor who will continue to execute the new strategy to cement our position of the industry leader and partner of choice".

Annex to the Announcement

Brief biography of Vladimir Bychkov

Prior to his employment at Global Ports Investments Plc Mr. Bychkov has worked at Delo Group since 2000, starting with the position of freight forwarder. In 2003, he became Deputy CEO, managing procurement and bunkering services before taking on the role of CEO of Krasnodarteploset to restructure the business. During 2004-2009, he was the CEO of Delo Group. In July 2010, he became the President of Ruscon, the container and logistics segment of Delo Group that operates terminals and warehouses in the Novorossiysk and Moscow regions offering full range of handling services and storage facilities as well as sea freight transportation and turn-key logistics multimodal solutions. Mr. Bychkov is a law graduate of the Academy of Federal Security of the Russian Federation, of the Finance Academy of the Russian Federation and has successfully completed the Executive MBA program of the School of Business of Moscow State University.



 

ENQUIRIES

Global Ports Investor Relations

Mikhail Grigoriev / Tatiana Khansuvarova

+7 (812) 677 15 57

+7 916 991 73 96

Email: ir@globalports.com

Global Ports Media Relations

Maria Kobzeva

+7 (812) 677 15 57

E-mail: media@globalports.com

Teneo

 

Zoë Watt / Douglas Campbell

+44 20 7260 2700

E-mail: globalports@teneo.com

 

 

NOTES TO EDITORS

 

Global Ports Investments PLC

Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput.[1]

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[2] and Moby Dik[3] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[4] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park[5] located in the vicinity of St. Petersburg.

Global Ports' revenue for 2019 was USD 361.9 million, and Adjusted EBITDA was USD 226.9 million. Consolidated Marine Container Throughput was 1,439 thousand TEU in 2019.

Global Ports' major shareholders are Delo Group, one of the largest private transportation and logistics holding companies in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operate a global terminal network of 78 operating port facilities, giving the company a global presence in 58 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

For more information, please see: www.globalports.com

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Any forward-looking statement is based on information available to Global Ports as of the date of the statement and, other than in accordance with its legal or regulatory obligations, Global Ports does not intend or undertake to update or revise these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements involve known and unknown risks, and Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially from what is expressed or implied by these statements. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. All written or oral forward-looking statements attributable to Global Ports are qualified by this caution.



[1] Company estimates based on 2019 throughput and the information published by the Association of Sea Commercial Ports ("ASOP").

[2] In which Eurogate currently has a 20% effective ownership interest.

[3] In which CMA Terminals currently has a 25% effective ownership interest.

[4] In each of which CMA Terminals currently has a 25% effective ownership interest.

[5] In which CMA Terminals currently has a 25% effective ownership interest.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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