ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces the results of a meeting of the Board of Directors held on 30 April 2021 in St Petersburg.
Changes in Board membership
The meeting adopted a resolution to expand the Group’s Board of Directors. In addition to the current directors, the new Board includes the Company’s CEO, Gennadiy Shcherbina and Alexander Voloshin.
Taking these changes into account, the members of the new Board of Directors and its committees are as follows:
Board of Directors:
- Sergey Egorov, Chairman of Etalon Group’s Board of Directors, non-executive director
- Oleg Mubarakshin, non-executive director
- Gennadiy Shcherbina, executive director
- Maxim Berlovich, executive director
- Dennis Vinokourov, non-executive director
- Marina Ogloblina, independent non-executive director
- Ganna Khomenko, independent non-executive director
- Martin Cocker, independent non-executive director
- Boris Svetlichny, independent non-executive director
- Charalampos Avgousti, independent non-executive director;
- Alexander Voloshin, independent non-executive director.
Remuneration and Nomination Committee:
- Sergey Egorov, Committee Chairman, Chairman of Etalon Group’s Board of Directors, non-executive director
- Oleg Mubarakshin, non-executive director
- Ganna Khomenko, independent non-executive director
- Martin Cocker, independent non-executive director
- Charalampos Avgousti, independent non-executive director
Strategy Committee:
- Maxim Berlovich, Committee Chairman, executive director
- Gennadiy Shcherbina, executive director
- Oleg Mubarakshin, non-executive director
- Sergey Egorov, Chairman of Etalon Group’s Board of Directors, non-executive director
- Dennis Vinokourov, non-executive director
- Marina Ogloblina, independent non-executive director
- Artyom Zasursky, Vice President for Strategy and Development, PJSFC Sistema
Audit Committee:
- Martin Cocker, Committee Chairman, independent non-executive director
- Boris Svetlichny, independent non-executive director
- Ganna Khomenko, independent non-executive director
Investor Relations and Information Disclosure Committee:
- Petr Kryuchkov, Committee Chairman, Director of Corporate Investments and Strategy
- Dennis Vinokourov, non-executive director
- Nikolai Minashin, Managing Director for Investor Relations, PJSFC Sistema
Commenting on the expansion of the Board of Directors, Sergey Egorov, Chairman of the Board of Directors, said:
“I am pleased to welcome the new directors and I am confident that their inclusion on the Board of Directors will help Etalon Group to improve the quality of its corporate governance. Gennady Shcherbina, who previously only sat on the Strategy Committee, has been Chief Executive Officer of the Company for several years. In line with best practice, the Board decided to include him as one of its members. In order to maintain a balance of interests of all shareholders, another independent director, Alexander Voloshin, also joined the Board. His many years of experience in finance and management will help to improve the Board's performance.”
Other business
The Board of Directors also reviewed and approved Etalon Group’s Annual Report for 2020.
Biographical information:
Gennadiy Shcherbina
Gennadiy Shcherbina began his career in construction in 2003 and has 18 years of experience in the industry. He served as the Head of Etalon Group’s St Petersburg Regional Division from 2007 and was appointed Chief Executive Officer of Etalon Group in 2018. Gennadiy holds a PhD in Economics, and he graduated from the Marshal A. A. Grechko Naval Academy and the St Petersburg State University of Architecture and Civil Engineering.
Alexander Voloshin
Alexander Voloshin has 30 years of experience in the fields of economics, investment and asset management. He has spearheaded a number of investment funds and brokerage companies; in 1997–1998, he was a member of the Exchange Council of Moscow Exchange. Alexander later held high-ranking posts in Russia’s Presidential Administration: Aide (1997–1998), Deputy Head of the Presidential Administration (1998–1999) and Head of the Presidential Administration (1999–2003). Alexander has served as the Chairman of the Board of Directors of RAO UES, Norilsk Nickel, Uralkali and Freight One. He is a partner and co-owner of the venture capital fund Genome Ventures. He is also a recipient of the Order for Merit to the Fatherland (4th class).
Alexander graduated from the Moscow Institute of Transport Engineers (now the Moscow State University of Railway Engineering) and the All-Union Academy of Foreign Trade (now the All-Russian Academy of Foreign Trade of the Ministry of Economic Development of the Russian Federation).
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/en/news/.
IR Team
About Etalon Group
Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company develops real estate projects for the middle class in Moscow, the Moscow region and St Petersburg. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 37 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. Since its foundation, Etalon Group has delivered 9.2 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs more than 6,000 people.
Etalon Group’s total assets comprise 27 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.5 million sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2024 was RUB 305 billion.
In 2024, Etalon Group’s new contract sales totalled 699 ths sqm, or RUB 146.2 billion.
The Company’s revenue in 2024 amounted to RUB 131 billion, with EBITDA of RUB 27.6 billion.
Etalon Group shares are traded on the Moscow Exchange (ticker ETLN) and have been included in the Level 2 quotation list since September 2025.