The move will see Denisov stay at the helm, with his current tenure set to expire on May 12, 2022. However, the Supervisory Board said it has already initiated the procedure for his re-election and approved his candidacy for election for an additional three-year term.
MOEX executive board chairman re-elected
Denisov has been in the role of Chairman of the Executive Board at MOEX since May 16, 2019.
Chairman of the Moscow Exchange Supervisory Board, Oleg Viyugin, commented:
In accordance with best corporate governance practices, the Supervisory Board of Moscow Exchange considered re-electing the head of the Exchange well in advance of the expiry of his term of office. Under the leadership of Yury Denisov, the Exchange is successfully rolling out projects to introduce new products and services as part of Strategy 2024.
Denisov graduated from Moscow State Institute of International Relations (MGIMO) in 1993, having specialised in international economic relations.
Denisov has over 25 years of experience in the financial markets, including leadership positions at large Russian financial companies. His previous role was an executive one at the Moscow Exchange, working as Deputy CEO from 2010 to 2011, where he helped establish the central counterparty and financial risk-management system and develop MOEX’s cash management system.
In addition, he has previously chaired the Board’s Risk Committee, Business Standards & Practices Committee, and Audit Committee.
Other roles for Denisov have included Senior Vice President and Head of Treasury at VTB Bank, Vice President at Eurofinance Bank, and he was on the Board of the National Settlement Depository (NSD).
Viyugin said one of the reasons for the reappointment was the results witnessed since Denisov’s election:
Operational and financial results are ahead of the forecasts. Considering these results, the Supervisory Board believes it appropriate to re-elect Mr. Denisov for another three-year term.