OREANDA-NEWS. May 19, 2010. Wimm-Bill-Dann Foods OJSC [NYSE: WBD] today announced that David Iakobachvili has stepped down as Chairman of the Board of Directors but will remain on the board. By today’s decision of the new Board of Directors, elected by the AGM held on 14th of May 2010, Sergey Plastinin has been elected the new Chairman of the Board of Directors.

Commenting on the announcement, David Iakobachvili said: “It has been a great honour to be chairman of Wimm-Bill-Dann since 2001. I have watched with pride as the company has matured over the last 9 years into a truly multinational player. I came to the decision, in consultation with the other directors, that it was the right time for me to step aside and allow Sergey to take up the challenging and rewarding role of Chairman. I intend to spend greater time on projects aimed at the macro development of the dairy sector, such as the Russian Dairy Union, as well as my work on the Board of the Russian Union of Industrialists and Entrepreneurs, Rusbrand and a number of other projects that are close to my heart. I remain completely committed to continuing my work as a member of the board of Wimm-Bill-Dann.”

Sergey Plastinin, the newly elected Chairman of the Board, said: “David Iakobachvili has set a very high standard as Wimm-Bill-Dann’s ambassador. That is why I see my mission in continuing what he has begun, further enhancing the company’s already world-class standard of corporate governance. As the Chairman I will do my best to ensure that the board fulfills its mission of providing strategic guidance and oversight in the interests of all of our shareholders. I would like to thank David for his service as chairman and am glad he will continue to play an important role as director.”