Sberbank reappoints Herman Gref as leader, unveils future-oriented strategy

  • Stock Market News
Sberbank reappoints Herman Gref as leader, unveils future-oriented strategy
Credit: © Reuters.

In a recent turn of events, Sberbank Russia has validated the reappointment of Herman Gref for another four-year term as the company's leader. The decision was announced in a press conference following a supervisory board meeting held this week. Gref had previously expressed that his continuation was suggested by the board members themselves, further solidifying his position within the company.

Simultaneously, Sberbank's supervisory board approved a unique three-year strategy that focuses on sustainable growth. This forward-looking approach demonstrates the bank's commitment to expanding its operations while ensuring equitable profit-sharing among its shareholders. The comprehensive unveiling of their new strategy is scheduled for Investor Day on December 6, which will accommodate both in-person and online participants.

In line with this future-oriented strategy, the supervisory board also made a preliminary agreement on a dividend policy. This decision is set to be finalized in early December, providing clarity on profit distribution for Sberbank's over 1.8 million shareholders.

These strategic decisions made by the supervisory board are indicative of Sberbank Russia's commitment to both expansion and fair distribution of profits in the coming years. With Gref at the helm and a clear roadmap for growth outlined, Sberbank is poised to navigate the challenges of the financial market with confidence.

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