Glorax developer co-founder Andrianov appointed CEO

ST. PETERSBURG. April 20 (Interfax) - Alexander Andrianov, co-founder and former first vice president of Glorax , has been appointed CEO, the developer's press service said.

"In my new role, I see my key objectives as further improving operating efficiency, implementing the approved strategy, achieving the targets announced to the investment community, and creating additional value for shareholders. We intend to maintain a high pace of business development, bolster our market position in the regions where we operate, improve capital efficiency, and create conditions for sustainable growth in the company's capitalization," Andrianov said.

Dmitry Kashinsky has decided to step down as CEO of Glorax to focus on his own projects.

"The changes in leadership do not imply a revision of the management team and do not affect the company's operations, the implementation of current projects, or the fulfillment of previously announced strategic guidelines," according to the statement.

As reported, Kashinsky had been the company's president since November 2024, having previously been the company's COO since September 2022.

Founded in 2014, Glorax develops residential, commercial and public real estate. Glorax Group was created by Andrei Birzhin, a former co-owner of the developer Tekta Group. It operates in 11 regions of Russia, namely in Moscow, St. Petersburg, and the Leningrad region, as well as in Nizhny Novgorod, Kazan, Yaroslavl, Vladimir, Murmansk, Omsk, Tula, and Vladivostok.

Glorax held an IPO on the Moscow Exchange in October 2025. The developer raised 2.1 billion rubles through the offering, garnering the company market capitalization of 18.1 billion rubles, including the additional share issue. Free float following the IPO is approximately 11.6% of the increased share capital.