Fozzy Group is to change its corporate management structure 18.04.2008

Fozzy Group announces about new corporate structure. This decision was approved to improve corporate management in response to the business scale growth.

As of today Fozzy Group structure is as follows:
1. Fozzy managing company lead by the Group’s President Volodymyr Kostelman. It is responsible for strategic control over retail, industrial and other businesses, and business development
2. Retail business with Silpo supermarkets, Fora convenience stores, Fozzy Cash&Carry, Bud Zdorovyi drugstores, and Gonza internet-shop.
3. Industrial business with Nizhyn Canning Plant, Malyn Meat Factory, Varto Poultry Plant, and Eco-Service Ukraine
4. Catering business with Chez restaurant U Chromý Pol and Prad-A-Café lounge-restaurant.

Advisory boards are to keep inline plans of managing company and businesses, and to control strategic decisions implementation. Minor amendments will be applied to legal entities in order to ensure operational effectiveness. Fozzy Group will own all its properties.

These changes are the part of the Group’s development strategy which is aimed to keep leading market position and growth pace. So, all the Group’s businesses will be able to quickly react on market changes and remain flexible in management decisions.

Volodymyr Kostelman, President Fozzy Group: "We have been fruitfully working on business processes improvement for a couple of years. Our efforts are to build such a corporate structure which will grant as enough autonomy for business leaders as well as transparency for shareholders. Also we constantly enhance our expertise with Ukrainian and international professionals".

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