March 31, 2020

AgroGeneration today announces the appointment of Sergiy Bulavin as Chief Executive Officer to replace resigning CEO John Shmorhun with immediate effect. John Shmorhun remains a member of the Board. The Board of Directors decided to appoint Sergiy Bulavin, currently Senior Vice President of AgroGeneration, as the CEO with effect from March 31, 2020.

Sergiy Bulavin began his career in 1995 at SigmaBleyzer, a US-based private equity firm and current majority shareholder of AgroGeneration. He held a number of operational and senior management positions covering several Eastern European countries (Ukraine, Bulgaria, Romania and Kazakhstan) before taking up his current position as Vice President assigned to the Ukraine Agricultural Project. In 2010, he joined Harmelia as First Vice President, and after the 2013 merger with AgroGeneration, became Senior Vice President of AgroGeneration. Sergiy Bulavin holds a PhD in Commerce and Administration and an MBA.

Incoming CEO Sergiy Bulavin commented on his appointment: “I am proud of my appointment as Chief Executive Officer. I know the Group well and I will devote all of my experience and personal commitment to serving AgroGeneration and ensuring that it can meet the multiple challenges that lie ahead, particularly in terms of profitability and efficiency.”

Meanwhile, AgroGeneration is informing the market that, despite the current COVID-19 health crisis, all farms in Ukraine remain fully operational. The Group has implemented all required social distancing measures to preserve the health of its employees. So far, the company has not any major issues with logistics and export operations, although there will be challenges going forward.