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Financial Corporation "Sistema"

May 26, 2003

AO Detski Mir holds an Annual General Meeting of its shareholders

On May 23, AO Detski Mir held an annual general meeting of its shareholders, who elected a new Board of Directors. Sergei Drozdov, now First Vice President of SISTEMA JSFC, was elected chairman of the Board of Directors of AO Detski Mir. Garnik Oganesian, previously the store's acting sales manager, was elected vice chairman.

The Shareholders meeting resolved to pay Rb 11 million in dividends for 2002. It was emphasized at the Shareholders' meeting that Detski Mir's improved financial performance was attributed to the store management's skillful direction, optimization of supplies and inventory policies, and adoption of new selling techniques.

AO Detski Mir's Board of Directors now comprises:

Yu.N. Biryukov, V.Ye. Bolshakov, A.N. Buyanov, L.Sh. Vasadze, S.A. Drozdov, D.L. Zubov, M.V. Klimovich, S.N. Kushakov, Ye.V. Meshkova, G.S. Oganesian, and G.A. Petrova.

 

 

 

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