Etalon Group Announces Changes to Board of Directors

26 April 2023

ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, hereby announces changes to its Board of Directors.

Etalon Group’s Board of Directors accepted the resignation of the independent director Ganna Khomenko from the Board and its Remuneration and Nomination Committee as well as its Audit Committee. 

In line with best corporate governance practices and in order to maintain a balanced Board structure and the independence of the Board’s directors, Andreas Kryftis was appointed as a new independent director. In addition, Mr Kryftis was nominated and unanimously approved by the Board of Directors as a member of the Board’s Audit Committee.

Taking the above changes into account, the current membership of the Board of Directors is as follows:

  • Sergey Egorov, Chairman of the Board of Directors, non-executive director;
  • Gennadiy Shcherbina, Chief Executive Officer of Etalon Group;
  • Dennis Vinokourov, non-executive director;
  • Alexander Voloshin, independent non-executive director;
  • Boris Svetlichny, independent non-executive director;
  • Marina Ogloblina, independent non-executive director;
  • Vitaly Pyltsov, independent non-executive director;
  • Andreas Kryftis, independent non-executive director.


Biographical information:

Andreas Kryftis

Andreas has more than 15 years of experience in corporate finance, investments and tax planning. Currently, as the Head of the Accounting and Tax Department at Fiduciana Trust (Cyprus) Limited, Andreas specialises in consulting on tax structures and planning, dealing extensively with audit and tax issues. Prior to that, Andreas dealt with audit issues at KPMG (Cyprus). He graduated from Manchester University and is a member of the Association of Chartered Certified Accountants.

This and other recent announcements are available on the Etalon Group website:

Contact Information

Etalon Group

IR Team
T: +44 (0) 20 8123 1328




About Etalon Group


Founded in 1987, Etalon Group is one of Russia’s largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 35-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has delivered 8.6 mln sqm of real estate.

Thanks to its integrated business model, Etalon Group is able to create 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 over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.

Etalon Group’s assets comprise 38 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.4 mln sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2022 was RUB 288 billion.

In 2022, Etalon Group’s new contract sales totalled 292 ths sqm, or RUB 58.7 billion, not including accumulated new contract sales at YIT Russia as of its acquisition.

The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB 16.5 billion.

Etalon Group’s GDRs have been listed on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.