Kazakhstan Kagazy announces five new Board appointments

Apr 30, 2008. /Lesprom.com/. Kazakhstan Kagazy PLC, one of Kazakhstan’s leading industrial groups, announced that five new directors have been appointed to the Board of the Group’s Almaty-based Kazakh operating subsidiary – Kazakhstan Kagazy JSC. The operating subsidiary Board now comprises eight members, of which 2 are non-executive independent Directors. The two new independent non-executive Directors are Azamat Baidildayev and Madina Sypatayeva, and the three new executive Directors are Yuriy Bogday, Alexander Valitov and Shynar Dikhanbayeva. The current Board members are Baglan Zhunussov, Maksat Arip and Sergey Tulegenov. At the same time, Alessandro Manghi has been appointed as the new Chairman of the Board of Directors of Isle of Man registered Kazakhstan Kagazy PLC, which owns 100% of Kazakhstan Kagazy JSC, and Yuriy Bogday has been appointed as CEO of Kazakhstan Kagazy PLC. Baglan Zhunussov and Maksat Arip, who are the Group’s principal shareholders, have stepped down from their respective roles as Chairman and Chief Executive of the PLC Board, in order to focus their time on the strategy and business development of the Group and will continue to perform the same duties as they have to date. Alessandro Manghi has served as the Group’s Corporate Finance and Investor Relations Director since 2005, whilst Yuriy Bogday has served in a number of executive positions with Kagazy, including as Development Director for the Group’s operations, for five years. The PLC Board comprises a total of 3 members, of which 1 is an independent non-executive Director. Kazakhstan Kagazy PLC runs Central Asia’s largest producer of paper, corrugated board and packaging products.