Kestutis Sasnauskas has been appointed Acting CEO of Melon Fashion Group as of
January 2015. Kestutis Sasnauskas is Partner and Head of Private Equity and Real
Estate within East Capital and has been Chairman of Melon Fashion Group since
2012. He succeeds Polina Bakshaeva, who joined Melon Fashion Group in 2006 and
has been the company's CEO since January 2014. Polina Bakshaeva is leaving her
position for personal reasons.
- Under Polina Bakshaeva's management Melon Fashion Group has launched an
extensive program to increase the company's efficiency and profitability, which
is starting to show results across several areas. We appreciate the effort that
Polina has put into launching a number of strategic initiatives in her capacity
as CEO, and are happy to see her staying on as Deputy CEO. I personally look
forward to being part of taking the company to the next level, with stronger
brands and a more efficient organisation, said Kestutis Sasnauskas.
Having accepted the position as Acting CEO, Kestutis Sasnauskas will step down
as Chairman of the Board of Melon Fashion Group. David Kellermann, who is a
Board Member as well as a major shareholder of Melon Fashion Group, will be
appointed new Chairman. Parallel to the CEO responsibility of Melon Fashion
Group, Kestutis, together with the rest of East Capital's Private Equity and
Real Estate team, will continue to play an active role in the investment work
for East Capital Explorer and East Capital.
Melon Fashion Group with its three brands Zarina, befree and Love Republic is
one of Russia's leading fashion retailers. As of 30 September 2014, the company
had 3,200 employees and operated 656 stores. East Capital Explorer owns 36 per
cent of the company.
Contact information
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer,
+46 73 988 44 66
Financial reporting calendar
Year-end Report 2014 - 12 Feb 2015
Annual General Meeting 2015 - 21 Apr 2015
Interim Report, Q1 2015 - 13 May 2015
Interim Report, Q2 2015 - 20 Aug 2015
Interim Report, Q3 2015 - 5 Nov 2015
About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company, created with
the specific aim of bringing unique investment opportunities in Eastern Europe
to a broader investor base. The company makes direct investments into private
and public companies but investments are also made through East Capital's
private equity, real estate and alternative investment funds. East Capital
Explorer's main investment theme is domestic growth and the Company targets fast
growing sectors such as Retail and Consumer goods, Financials and Real Estate.
East Capital Explorer has appointed East Capital to manage its investment
activities. East Capital Explorer is listed on NASDAQ OMX Stockholm, Mid Cap.
Listing: NASDAQ OMX Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity
This information is disclosed in accordance with the Securities Markets Act, the
Financial Instruments Trading Act and demands made in the exchange rules. It was
released for publication at 11:00 a.m. CET on 3 December 2014.
[HUG#1876503]
