Abrau-Durso PJSC announces the appointment of a new CEO
A meeting of the Board of Directors of the Abrau-Durso Group of Companies, the leader in the Russian sparkling wine market, was held on October 30 in Moscow, at which it was decided to change the CEO of Abrau-Durso PJSC. Elena Zaritskaia will take over the position of CEO of the management company from November 1, 2023.
Previously, the new CEO of Abrau-Durso PJSC, Elena Zaritskaia, headed the Group’s investment activities and supervised M&A transactions. The largest project realized under her leadership was the purchase of the Yubileinaya Winery assets in 2020, doubling the size of the company’s vineyards.
Elena Zaritskaya received a higher professional education and graduated with honors from the Faculty of Law of the Lomonosov Moscow State University; she continued her studies at the postgraduate school of the Institute of Legislation and Comparative Law under the Government of the Russian Federation. She has held key positions in Russian private and state-owned companies for over twenty-five years. Elena Zaritskaya has been a member of the Board of Directors of the Abrau-Durso Group of Companies since 2020.
At the last meeting, the Board of Directors expressed its gratitude and appreciation to Vladimir Maslovsky for his excellent work, who has been CEO of Abrau-Durso PJSC for almost ten years and has decided to leave the company at his request.
The Board of Directors also announced a decision to modernize the Group’s management system to move from a vertical structure to a more autonomous one for key business units. Thus, it was announced that two new structures are planned to be created within the Group of Companies.
The first will be the Abrau Bev Group’s Production Asset Management Centre, which will concentrate assets for the production and sale of wines, alcoholic and non-alcoholic beverages: “from the vine to the sales shelf.” Oleg Petko, who previously held the position of Commercial Director and Head of Abrau Trade House, will be appointed Head of the unit.
The second structure will be the Tourism Project Management Centre of the 3E (Eco-Eno-Etno) Group, headed by Irina Goncharova, a member of the Board of Directors, who previously held the position of Special Projects and Tourism Vice President of the Abrau-Durso Group of Companies.
Abrau-Durso is growing and reaching a new level of development. We must meet the demands of the times, and it dictates greater flexibility, speed in decision-making, a high level of digitalization, and automation of business processes. Our new appointments and changes in the structure will allow the company to be more maneuverable, to work more easily in the rapidly changing realities and effectively move forward, ahead of the market,” Pavel Titov, President, Chairman of the Board of Directors of the Abrau-Durso Group of Companies, commented on the news.
Abrau-Durso is Russia’s leading producer of sparkling and still wines. The Abrau-Durso estate was founded in 1870 by the decree of Emperor Alexander II. Abrau-Durso presents collections of wineries: Abrau-Durso, Vedernikov Winery, Loza, Sheki Sharab and others. Abrau-Durso sold more than 54.1 million bottles of alcoholic and non-alcoholic products in 2022. Based on IFRS, Abrau-Durso Group’s revenue totaled RUB 11.864 billion, EBITDA reached RUB 3.546 billion and net profit was RUB 1.772 billion. At the end of 2022, one of the leading rating agencies Expert RA confirmed the creditworthiness rating of Abrau-Durso PJSC at the level of ruA+ with a stable outlook. Abrau-Durso is the most titled winemaking enterprise of modern Russia and the champion of the international tasting competition of sparkling and champagne wines Champagne & Sparkling Wine World Championships in the Rising Star nomination, in which experts mark the most promising producer of sparkling and champagne wines in the world. According to the results of the Top 100Wines 2022 expert rating, the Russian wine house Abrau-Durso won the Winery of the Year title.
Director for Communications and Public Relations of the Abrau-Durso Group of Companies
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