16 Apr 2024 14:23

Segezha appoints Sistema corporate finance chief as new CFO

MOSCOW. April 16 (Interfax) - Segezha Group , a vertically integrated timber industry holding controlled by AFK Sistema , has appointed a senior executive from the parent company with expertise in structured, investment and equity financing as its new chief financial officer.

The company said in a disclosure that its board of directors approved changes to its management board on April 12.

Segezha told Interfax that its new CFO was Anton Rozhkov, former corporate finance chief at Sistema.

"Anton Rozhkov has more than 20 years of experience in finance and investment, and has exceptional expertise in structured, project (investment), equity and M&A financing, including in the Asian market," the company said.

Vladimir Travkov, the previous CFO, "has decided to focus on his own projects." He came to Segezha in the autumn of 2022 after serving as CFO at Sistema.

Segezha Group held an IPO in April 2020, raising 30 billion rubles. AFK Sistema currently holds 62.2% of the company's stock an members of the board of directors and management board hold 4%; the free float is 24.25%. The company has 15.69 billion issued ordinary shares, par value 0.1 rubles each.

Segezha said at the end of March in a financial report to International Financial Reporting Standards that its net debt was 122.6 billion rubles at end-2023. EBITDA came to 9.3 billion rubles and the net debt/EBITDA margin to 13x. Total debt grew 6% during Q4 2023 to 133.2 billion rubles.