An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Cian Announces Changes to Its Board of Directors and Committees
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Cian PLC (NYSE: CIAN) appointed Vladimir Verkhoshinskiy to the Board of Directors and the Audit Committee, succeeding Dmitry Antipov, who remains on the Board. Verkhoshinskiy, with over 15 years in banking and finance, is CEO of Alfa-Bank and holds degrees from Stanford University, indicating strong financial literacy in line with NYSE standards. Cian is a leading online real estate platform in Russia, having achieved 38% YoY revenue growth in Q1 2022, with over 1.7 million listings and an average monthly user base exceeding 19 million.
Positive
Appointment of Vladimir Verkhoshinskiy brings expertise from his role as CEO of Alfa-Bank.
Continuity in board structure with Dmitry Antipov remaining a board member.
Potential concerns about experience gaps with management changes.
Dependence on maintaining market position amid competition in the Russian real estate sector.
LARNACA, Cyprus--(BUSINESS WIRE)--
Cian PLC (NYSE: CIAN, MOEX: CIAN) (“Cian”, the “Group” or the “Company”), a leading online real estate classifieds platform in Russia, today announced that upon recommendation of the Compensation, Governance and Nominating Committee of the Board (the “Compensation, Governance and Nominating Committee”), the Board of Directors of the Company (the “Board”) appointed Vladimir Verkhoshinskiy as a member of the Board of Directors of the Company and appointed him to the Audit Committee of the Board (the “Audit Committee”) to succeed Dmitry Antipov. Mr. Antipov will continue to serve as a member of the Board. The Board has also determined that, based on his education and experience, Mr. Verkhoshinskiy is financially literate in accordance with the requirements of the NYSE. Following Mr. Verkhoshinskiy’s appointment, the Audit Committee consists of Douglas Gardner, Simon Baker and Vladimir Verkhoshinskiy, with Mr. Gardner serving as Chairperson. All three members of the Audit Committee meet the independence requirements.
Mr. Verkhoshinskiy serves as a Chief Executive Officer and a member of the Board of Directors of Alfa-Bank. He has over 15 years of experience at top positions in banking and finance. Mr. Verkhoshinskiy holds Master of Business Administration and Public Management Program degrees from Stanford University.
About Cian
Cian is a leading online real estate classifieds platform in the large, underpenetrated and growing Russian real estate classifieds market, with a strong presence across Russia and leading positions in the country’s key metropolitan areas. The Company ranks among the top seven most popular online real estate classifieds globally in terms of traffic (based on SimilarWeb traffic data for other online real estate classifieds and Google Analytics data for Cian for June 2022. Cian’s networked real estate platform connects millions of real estate buyers and renters to millions of high-quality real estate listings of all types — residential and commercial, primary and secondary, urban and suburban. In the first quarter of 2022, the Company had over 1.7 million listings available through its platform and the monthly audience with an average UMV of over 19 million, and enjoyed 38% YoY growth in revenues. Through its technology-driven platform and deep insights into the Russian real estate market the Company provides an end-to-end experience for its customers and users and helps them address multiple pain points on their journey to a new home or place to work.
Source: Cian PLC
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our financial outlook for 2021 and long-term growth strategy, as well as statements that include the words “target,” “believe,” “expect,” “aim,” “intend, intend,” may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: our ability to maintain our leading market positions, particularly in Moscow, St. Petersburg and certain other regions, and our ability to achieve and maintain leading market position in certain other regions; our ability to compete effectively with existing and new industry players in the Russian real estate classifieds market; our heavy dependence on our brands and reputation; any potential failure to adapt to any substantial shift in real estate transactions from, or demand for services in, certain Russian geographic markets; any downturns in the Russian real estate market and general economic conditions in Russia; any effect on our operations due to cancellation of, or any changes to, the Russian mortgage subsidy program or other government support programs; further widespread impacts of the COVID-19 pandemic, or other public health crises, natural disasters or other catastrophic events which may limit our ability to conduct business as normal; our ability to establish and maintain important relationships with our customers and certain other parties; any failure to establish and maintain proper and effective internal control over financial reporting; any failure to remediate existing deficiencies we have identified in our internal controls over financial reporting, including our information technology general controls; any new or existing government regulation in the area of data privacy, data protection or other areas and the other important factors discussed under the caption “Risk Factors” (in particular, “Risks Relating to the Russian Federation” thereunder) in Cian’s prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on November 4, 2021, and our other filings with the SEC as such factors may be updated from time to time.
Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
