25 Aug 2023 15:40

Ukraine's Astarta agroholding appoints new executive director

MOSCOW. Aug 25 (Interfax) - The board of directors of Astarta agroholding, Ukraine's largest sugar producer, has accepted the resignation of Executive Director Victor Gladky and appointed Vyacheslav Chuk as the new executive director, Ukrainian media reported, citing the company's report on the Warsaw Stock Exchange.

Chuk had been commercial director at Astarta-Kyiv, the agroholding's key operating company, since July 2022

According to Ukrainian media, Gladky tendered his resignation on August 21, and Chuk agreed to accept the position on the same day. Both statements were approved at the board meeting on August24.

"Astarta Holding Plc. Executive Director Victor Gladky has not notified the company of any disagreement on any issue relating to the company's activities, policies or practices," Astarta said in a statement.

As noted, Chuk has extensive experience in commercial strategy and establishing business processes while accounting for commercial risks, as well as "pays special attention to adding value to products and expanding sales to new and promising markets."

Astarta is a vertically integrated agro-industrial holding that includes sugar factories, agricultural enterprises, dairy farms, an oil extraction plant, grain elevators, and a biogas complex.

The family of founder and CEO Victor Ivanchik, who controlled 29.21% through Fairfax Financial Holdings Ltd. at the end of the first quarter 2023, is the main shareholder of Astarta. Kopernik Global Investors owns 2.64%, Heptagon Capital owns 1.88%, and Metlife PTE SA owns 0.62%.