Gary Sobel began his career at Procter and Gamble, where over 13 years he worked in various positions in Canada, the US, the UK and Russia. His experience includedworking in Procter & Gamble’s Wal-Mart Customer Team, as well as heading up In-store Marketing and New Product Performance for their Baby Care Division. From 2005, Mr. Sobel headed Dirol Cadbury (a division of Cadbury Schweppes) in Russia.
Mr. Sobel graduated from Concordia University (Montreal, Canada) with honors and received a BA in Business Administration as well as an MBA from the University of Western Ontario (Canada).
The chief executive officer of Wimm-Bill-Dann, Tony Maher, commented: “Baby Food is becoming a substantial part of our revenue, alongside dairy products and beverages. We believe that the market for Baby Food will develop rapidly, expanding into new product niches and new regions. We have already managed to make Agusha the best-known baby food brand in the country. I believe that Gary, with his international experience and knowledge of the market, can accelerate the development of Baby Food and lead to a new level.”
Mr. Sobel added: “I am very excited to join Wimm-Bill-Dann as the Head of Baby Food business. Baby Food is a fast growing and highly profitable business and Agusha has a strong and well-deserved reputation for quality in the marketplace. I am very confident that Baby Food is well positioned to be a driver of Wimm-Bill-Dann's profitable growth, and I am honored to be leading this business.”
Anton SaraikinPress SecretaryWimm-Bill-Dann Foods OJSCSolyanka, 13, Moscow, 109028 RussiaTel +7 495 105 5805 (ext. 116-99)Fax +7 495 105 5800saraikinas@wbd.ru
Marina KaganHead of Corporate AffairsWimm-Bill-Dann Foods OJSCSolyanka, 13, Moscow 109028 RussiaPhone: +7 495 105 5805 (ext. 111-54)Fax: +7 495 105 5800kagan@wbd.ru
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Some of the
information contained in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann Foods OJSC, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.We wish to caution you that these statements are only predictions and that actual events or results may differ materially.We do not intend to update these statements to conform them to actual results.We refer you to the documents Wimm-Bill-Dann Foods OJSC files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company's most recent Form 20-F.These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, and risks associated with our competitive environment, acquisition strategy, ability to develop new products or maintain market share, brand and company image, operating in Russia, volatility of stock price, financial risk management, and future growth.
NOTES TO EDITORS
Wimm-Bill-Dann Foods OJSC is a leading manufacturer of dairy products and beverages in Russia. The company was founded in 1992.
The Company currently owns 33 manufacturing facilities in Russia and the Commonwealth of Independent States (CIS), as well as trade affiliates in 26 cities in Russia and the CIS.
Wimm-Bill-Dann has a diversified branded portfolio with over 1,000 types of dairy products and over 150 types of juice, nectars and still drinks. The company currently employs over 21,000 people.
On May 18, 2006, Standard & Poor’s Governance Services announced the upgrade of WBD’s Corporate Governance Score (CGS) from 7 to 7+ (from 7.3 and 7.7 accordingly on the Russian national scale), which makes the Company’s score the highest rating in Russia. The increase in the score reflects the effective work of the Board of Directors and, in particular, the real influence of independent directors in the decision-making process and the adherence of the controlling shareholders to the highest standards of corporate governance.