Kazakhstan Kagazy appoints Poul Bech as its CFO, effective immediately; he succeeds outgoing CFO Aida Yelgeldiyeva, who will remain with the company as advisor to CEO Tomas Mateos

ALMATY, Kazakhstan , January 30, 2014 (press release) – Former Visor Holding Chief Financial Officer succeeds outgoing CFO, Aida M. Yelgeldiyeva, who has become advisor to the CEO

Kazakhstan Kagazy Group (the “Group”) today announced that Poul Bech has been appointed as Chief Financial Officer, succeeding the outgoing CFO, Aida Yelgeldiyeva, who will remain in the Group as advisor to the CEO. Poul becomes CFO effective immediately.

“Poul brings strong skills and experience to the role as we aim towards strengthening and expanding the business,” said Tomas Mateos, the Group’s Chief Executive Officer. “He has significant financial and operational management expertise which will be essential in the execution of the Group’s growth plans.”

Poul spent his early career at Coopers and Lybrand as an auditor and then progressed to senior financial and operation roles at Carlsberg. His first role in Kazakhstan was as Finance Director for Maersk. Poul then worked as CFO of United Cement. His most recent position was as CFO of Visor Holding, a Kazakh private equity group.

“I’m excited to step into this role and look forward to working closely with investors and shareholders,” Poul Bech said. “Aida has developed a strong finance team, and I plan to continue to execute on the company’s strong discipline around costs and focus on shareholder value.”

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