OREANDA-NEWS. December 23, 2011. Magnit CEO Sergey Galitskiy has been announced the winner of the "Russian corporate governance leaders - 2011" Award in the nomination of the "Best corporate manager" for the second time1 at the annual conference of the Investor Protection Association (IPA) following the results of the outgoing year in the area of corporate governance and improvement of the investment climate in Russia. OJSC "Magnit" also won the "Company with best corporate governance" Award.

The Investor Protection Association (IPA) was established in April 2000 to unite efforts of investors aimed at preventing violations of shareholders rights in Russian companies and improvement of corporate governance. Today IPA is the organization with significant impact on development of the legislative base of the Russian securities market playing an important role in shaping opinion of the investment community.

IPA members are Deutsche Bank AG, Dart Management, East Capital Asset Management, Equinox, Hermitage Capital Management, NCH Advisors, Prosperity Capital Management, Renaissance Brokers, SUN Capital Partners, Templeton Asset Management, Vostok Nafta Investment Ltd., Alfa Bank, Aton, VFP, MC UralSib, Industrial Investors, KIT Finance, , Leader , United Heavy Machinery (Uralmash-Izhora Group), Philip Morris marketing and Sales, Kazimir Partners, PPF BETA Ltd., IC RUSS-INVEST, EOS Russia, Fleming Family & Partners.

During the year the IPA members conduct the regular monitoring of the level of corporate governance in Russia. At the end of the year based on the received information they select winners of the "Russian corporate governance leaders" award.

[1] Sergey Galitskiy also won the "Russian corporate governance leaders - 2009" award in the same nomination