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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  TCS Group Holding PLC    TCS

TCS GROUP HOLDING PLC

(TCS)
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TCS Group announces governance enhancements and changes to the composition of its governing bodies

03/25/2021 | 08:18am EDT
TCS Group Holding PLC (TCS) 
TCS Group announces governance enhancements and changes to the composition of its governing bodies 
25-March-2021 / 16:17 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
TCS Group announces governance enhancements and changes to the composition of its governing bodies 
 
Limassol, Cyprus - 25 March 2021. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) ("Company"), Russia's leading provider of 
online financial and lifestyle services via its Tinkoff ecosystem, announces new governance enhancements and changes to 
the composition of its governing bodies. 
 
-            Oliver Hughes appointed Executive Director on the newly expanded TCS Group Board of Directors to lead key 
governance and growth strategic initiatives. Oliver will continue in his long-standing role as CEO of TCS Group, 
managing the business and Group operations. 
 
-            Stanislav Bliznyuk appointed Chairman of the Tinkoff Bank Management Board. This appointment has received 
all the necessary regulatory approvals. Stanislav has been with the Company since 2006, having served in leadership 
positions such as Head of Business Technology and Innovation, COO and Head of Business Development. In addition to his 
new responsibilities as Chairman of the Tinkoff Bank Management Board, he will retain his role as Head of Business 
Development. 
 
-            George Chesakov appointed Chairman of Tinkoff Bank Board of Directors, taking over from Stanislav 
Bliznyuk. George will remain CEO of Tinkoff Mobile. 
 
The changes detailed above underscore the Group's commitment to developing and promoting its outstanding talent, 
deepening the management bench and continuing to strengthen the Group's corporate governance, as it maintains its 
trajectory of fast and profitable growth. 
 
Stanislav Bliznyuk, Chairman of the Tinkoff Bank Management Board, commented: 
 
"It is great to have the opportunity to bring the rich experience I have gained in a variety of leadership roles at 
Tinkoff to my new position as Chairman of the Tinkoff Bank Management Board. I am delighted to be part of the 
leadership team of one of the world's most exciting fintech stories. I look forward to creating even more value for our 
customers and shareholders as we accelerate towards our goal of 20m customers." 
 
Oliver Hughes, CEO of TCS Group, commented: 
 
"These changes will enable me to devote more time to the development of corporate governance, as well as to focus on 
the ambitious strategic targets we have set out to achieve. I see my appointment as an Executive Director on the TCS 
Group Board of Directors as a great opportunity to facilitate further communication and cooperation between the soon to 
be expanded TCS Group Board of Directors and our management team. I am confident this will benefit the entire Tinkoff 
ecosystem, which continues to innovate, grow and expand at high speed. These changes are also important in providing 
opportunities for development and growth for other members of our outstanding team. We have a talent pool to be proud 
of." 
 
These appointments were approved by the Group's governing bodies on 25 March 2021. Stanislav Bliznyuk's candidacy has 
been approved by the Central Bank of the Russian Federation. All appointments will be effective from 25 March 2021. 
Oliver Hughes was appointed to the TCS Group Board of Directors, effective today, as an executive director. There are 
no other matters requiring disclosure under UK Listing Rule 9.6.13. 
 
The composition of the three governing bodies of TCS Group are reported below. 
 
TCS Group Holding Board of Directors: 
Oliver Hughes 
Constantinos Economides 
Alexios Ioannides 
Mary Trimithiotou 
Martin Robert Cocker 
Jacques Der Megreditchian 
 
Tinkoff Bank Board of Directors: 
George Chesakov 
Stanislav Bliznyuk 
Sergei Pirogov 
Vadim Stasovsky 
Svetlana Ustilovskaya 
 
Tinkoff Bank Management Board: 
Stanislav Bliznyuk 
Ilya Pisemsky 
Evgeny Ivashkevich 
Valeria Pavlyukova 
Viacheslav Tsyganov 
Natalia Izyumova 
Anatoly Makeshin 
 
For enquiries: 
 
Artem Lebedev                   Larisa Chernysheva 
PR Department                   IR Department 
+ 7 495 648-10-00 (ext. 2202)   + 7 495 648-10-00 (ext. 2312) 
Alexandr Leonov                 Neri Tollardo 
+ 7 495 648-10-00 (ext. 35738)  +44 7741 078383 
pr@tinkoff.ru                   ir@tinkoff.ru 
 

About Tinkoff Group

TCS Group Holding PLC is an innovative provider of online retail and SME financial services. It includes Tinkoff Bank, its mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, its asset management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in major Russian cities, and Tinkoff Education. The Group is currently developing Tinkoff ecosystem, which offers financial and lifestyle services.

The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

The Group's key business is Tinkoff Bank, a fully online bank that serves over 13 mn customers and forms the core of the Tinkoff ecosystem. Tinkoff is the 3d largest retail bank in Russia in terms of active client-base.

Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.0%. The 4Q'20 IFRS net profit of TCS Group Holding PLC amounted to RUB 12.3 bn. The ROE was 40.5%.

With no branches, the Group serves all its customers remotely via online channels and a cloud-based call centre. The centre is staffed by over 10,000 employees, making it one of the largest in Europe. To ensure smooth delivery of the Group's products, the Group has a nationwide network of over 2,500 representatives.

Global Finance named Tinkoff Bank the world's Best Consumer Digital Bank in 2020 and 2018, and the Best Consumer Digital Bank in Russia in 2020, 2019, 2018, 2016 and 2015. Tinkoff was also named the Best European Retail Bank of the Year by Retail Banker International in 2020. In 2021, the Banker recognised Tinkoff Bank as Russia's Best-Performing Bank. The bank's mobile app has been consistently praised by local and global independent experts as the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance). -----------------------------------------------------------------------------------------------------------------------

ISIN:          US87238U2033 
Category Code: MSCH 
TIDM:          TCS 
LEI Code:      549300XQRN9MR54V1W18 
Sequence No.:  96292 
EQS News ID:   1178509 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------ 
 

(END) Dow Jones Newswires

March 25, 2021 09:17 ET (13:17 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON STOCK EXCHANGE PLC 1.19% 7498 Delayed Quote.-16.98%
TCS GROUP HOLDING PLC -0.94% 58.76 Delayed Quote.78.66%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.08% 77.352 Delayed Quote.3.74%
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Financials (USD)
Sales 2021 1 710 M - -
Net income 2021 742 M - -
Net Debt 2021 - - -
P/E ratio 2021 15,6x
Yield 2021 0,28%
Capitalization 11 538 M 11 538 M -
Capi. / Sales 2021 6,75x
Capi. / Sales 2022 6,03x
Nbr of Employees 25 970
Free-Float 18,5%
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Number of Analysts 13
Average target price 51,80 $
Last Close Price 58,78 $
Spread / Highest target 22,5%
Spread / Average Target -11,9%
Spread / Lowest Target -49,0%
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Managers and Directors
NameTitle
Constantinos Economides Chairman
Jacques der Megredichyan Independent Non-Executive Director
Martin Robert Cocker Independent Non-Executive Director
Alexios Ioannides Director
Maria Trimithiotou Director
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