NEW YORK, NY--(Marketwire - June 19, 2008) - Institutional Investor's annual survey of
Russia's top business leaders shows that although the executives come from
different backgrounds and are pursuing different strategies, they have one
common denominator: very strong growth.
Earnings at eight companies overseen by the top-ranked CEOs jumped by an
average of 39 percent in 2007. And far from being a mere byproduct of
sky-high energy prices or monopoly positions, profit growth is strongest in
consumer-oriented sectors where competition is the greatest.
"Five years ago, Russia was a value play," says Kevin Dougherty, a
portfolio manager at Moscow-based Pharos Capital. "Now there are very few
companies that don't have rapid growth as part of their strategy."
The survey ranks business leaders in eight sectors: Consumer, Financial
Services, Industrials, Metals & Mining, Oil & Gas, Real Estate,
Telecommunications, and Utilities. This is the first year the survey
includes the Real Estate sector.
Russia's Top Business Leaders:
Sector Company Name
------ ------- ----
Consumer X5 Retail Group Lev Khasis
Financial Services Sberbank German Gref
Industrials Severstal-Auto Vadim Shvetsov
Metals & Mining Magnitogorsk Iron Victor Rashnikov
and Steel Works
Oil & Gas Gazprom Alexey Miller
Real Estate Open Investments Sergey Bachin
Telecommunications VimpelCommunications Alexander Izosimov
Utilities Unified Energy System Anatoly Chubais
of Russia
The complete survey results including who placed second and third, are
available today on at
www.iimagazine.com and in the June 2008 international
edition of the magazine.
Institutional Investor's fifth annual Russia's Top Business Leaders were
chosen by a survey of analysts and fund managers at some 230 institutions
managing an estimated $108 billion in Russian assets.
Contact Information: Contact:
Chris Cavanagh
212-224-3369
chriscavanagh@iimagazine.com