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    Jiri Smejc appointed Chairman of the Board and CEO of Home Credit Group, Alexander Labak assumes advisory role

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    Following the recently communicated changes in the shareholder structure of PPF Group, in which Jiri Smejc will become a direct shareholder and chairman in Home Credit Group through a swap of his ownership interest in PPF Group, Home Credit B. V. today announces that Alexander Labak is stepping down as Chairman of the Board of Directors and Chief Executive of Home Credit Group. With immediate effect Jiri Smejc is to assume the company leadership. Alexander Labak will continue working for Home Credit Group advising the company on strategy.

    “Alex has been instrumental in building up Home Credit into one of the most successful emerging markets financial institutions and developing our brand across Russia, Europe and Asia. I would like to thank Alex for his high performance during his six years with the company and I am happy to see him continue advising our company”, said Petr Kellner, majority shareholder of PPF Group.

    Jiri Smejc joined PPF Group in 2004 and became a shareholder in 2005. Among other positions, he has been a member of the Board of Directors of Generali PPF Holding B.V. since January 2008. He went into business in 1992 and in 1993 he became the Executive Officer and Director of PUPP Consulting s.r.o. In 1995 he served as Sales Director at Middle Europe Finance s.r.o., a securities trader focusing on acquisitions. He was a 34% owner of the TV NOVA group until the end of 2004. Jiri Smejc is a graduate of Charles University, Prague, Faculty of Mathematics and Physics, with a degree in Mathematical Economics.

    Alexander Labak has lead Home Credit Group since 2006. Before joining the Home Credit Group, Mr. Labak held executive positions at leading financial services companies such as MasterCard Europe where he served as President, and Deutsche Bank where he was Chief Marketing Officer. Mr. Labak developed a strong consumer focus working for Johnson & Johnson and Henkel. Throughout his career he has held regional and global business responsibilities complemented by direct operating market experience (United States, Canada, Germany, Italy and Austria). Mr. Labak has an MBA from the Wharton Business School and a PhD from the Vienna University of Economics and Business Administration.

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