Russian Sea Group announces appointment of new chief executive officer

OJSC Russian Sea Group (the "Company" or the "Group"), one of Russia's leading consumer food companies, announces the appointment of Timofey Tarasov, the former Vice-president of Wimm-Bill-Dann, as Chief Executive Officer effective October 3, 2011.

In his role as Russian Sea Group CEO Timofey Tarasov will focus on increasing profitability and ensuring stable growth of the Group's companies.

Timofey Tarasov was employed by Wimm-Bill-Dann ("WBD") from 2007 until September 2011. He started his career at WBD as director of business processes development. In 2008 he was appointed Vice-President of the International Unit. He managed the WBD businesses in other CIS countries, with an overall turnover of some USD 200 million. After the acquisition of Wimm-Bill-Dann by PepsiCo in 2011, Timofey was appointed General Manager of "Ukraine and Integration". In this role, Timofey managed three Wimm-Bill-Dann factories in Ukraine and successfully accomplished WBD's integration with PepsiCo's business in Ukraine.

Mr. Tarasov graduated with distinction from the Moscow State University of International Relations (MGIMO) in 2000, majoring in international economic affairs. Timofey also holds a Master in Business Administration ("MBA"), with distinction, from INSEAD.

Dmitry Dangauer, who currently holds the positions of CEO in both Russian Sea Group and Russian Fish Company, will continue as CEO of Russian Fish Company. His main task is to significantly increase sales volumes as well as profitability of the chilled and frozen segment.

Maxim Vorobiev, Chairman of Russian Sea Group Board of Directors, said: "We are pleased to welcome Timofey as Russian Sea Group CEO. His broad experience in international companies and his knowledge of major FMCG companies' business processes will help the Company to reach a new level of development, rapidly focusing on the increase of profitability and delivering further growth. We would like to thank Dmitry Dangauer for his tremendous contribution in the development of the Group's business. We believe that Dmitry's focus on one of our main segments - chilled and frozen fish distribution - will allow the Company to benefit from its enormous growth potential and as result, strengthen our leadership position in this sector."