Last checked at 9 Apr 2010 08:31
X5 retail group announces NEW Management APPOINTMENTS
Amsterdam, 9 April 2010 - X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: "FIVE"), announces new senior management appointments:
·; Ekaterina Stolypina, formerly X5's HR Director, has been appointed as the Company's Director of Hypermarket and Supermarket Formats in charge of operations, value propositions and brand management for both formats.
·; In order to sharpen the HR function's focus on X5's strategic and operational objectives, the Company has established a clear delineation between strategic and operational HR Management. Strategic HR is responsible for developing HR policies in support of the Company's strategic objectives. It also manages issues with respect to attracting, incentivising and developing X5's executives to ensure the Company has the right talent to support its long-term success. Operational HR manages the needs of X5's large and growing business, supporting the objectives of our retail formats and logistics function. Pursuant to this decision:
- Strategic HR function will be led by Denis Yaklakov, formerly X5's Deputy HR Director, who has been appointed as the Strategic HR Director and will report directly to X5's CEO;
- Operational HR function will be managed by Teimur Shternlib, X5's Deputy CEO and Chief Business Support Officer.
·; Mikhail Susov, formerly X5's Director of Supermarket Format, has been appointed as the Company's Corporate Relations Director, in charge of GR and PR activities. Mr. Susov will also be responsible for supplementary retail projects, such as MVNO, franchising, etc.
·; Yury Kobaladze, formerly X5's Corporate Affairs Director, has been appointed as the Advisor to the CEO on government relations issues.
X5 Retail Group CEO Lev Khasis commented: "Today's appointments further reinforce X5's management team, which is the strongest in the market, positioning the Company to capitalize on opportunities faster and more effectively than its competitors.
"This includes a streamlined operational structure for X5's supermarkets and hypermarkets led by Ekaterina Stolypina. Ekaterina has over 10 years of experience in Russian food retail, including executive positions in operations and purchasing. Moreover, Ekaterina has dramatically transformed X5's HR function bringing it in line with best international practices. Ekaterina also played a crucial role in developing and launching SAP for HR and labour productivity improvement projects. We highly value Ekaterina's dynamic impact on the overall development of X5 Retail Group over the past few years and expect her to make a strong contribution to the operational focus for hypermarkets and supermarkets going forward.
"We further strengthen X5's HR function by splitting operational and strategic HR and believe that Denis Yaklakov's deep knowledge of retail and extended experience with X5 will bring the Company's strategic HR function to a new level. On top of that, through the appointment of Michail Susov, we sharpen our focus on government and public relations - a strategically important area for X5 and for Russian retail in general".
Ekaterina Stolypina graduated from the Moscow Pedagogical State University with a degree in linguistic sciences. Ms. Stolypina has more than 10 years of experience in food retail. She joined Perekrestok back in 1998 as a store manager and until 2004 served as a supermarket and then a hypermarket director. In 2004 Ms. Stolypina joined the Company's head office to serve as Deputy Commercial Director and then Commercial Director of Perekrestok in charge of purchasing, assortment management, pricing and promotional activities. In 2007 Mrs. Stolypina was appointed X5's HR Director.
Denis Yaklakov graduated from the Moscow Finance Academy with a degree in finance and credit. Denis began his career in Global Energy & Mining Audit Department at PricewaterhouseCoopers in 1999. He joined Perekrestok in 2003 as head of internal audit department. From 2006 to 2009 Denis was in charge of financial analysis, planning and control at X5 Retail Group. In 2009 Denis Yaklakov was appointed X5's Deputy HR Director.
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Note to Editors:
X5 Retail Group N.V. is Russia's largest retailer in terms of sales. The Company was created as a result of a merger between Pyaterochka (soft discounter chain) and Perekrestok (supermarket chain) on 18 May 2006. In June 2008, X5 acquired Karusel hypermarket chain and substantially strengthened its position in hypermarket format.
As at 31 March 2010, X5 had 1,399 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 1,063 soft discount stores, 276 supermarkets and 60 hypermarkets.
As at 31 March 2010, X5's franchisees operated 640 stores across Russia.
For the first nine months 2009 X5's net sales totaled USD 6,081 mln, EBITDA reached USD 509 mln, and net profit amounted to USD 121 mln. For the full year 2009, net retail sales totaled USD 8,675 mln.
X5 Shareholder structure is as follows: Alfa Group - 47.9%, founders of Pyaterochka - 23.1%, X5 Management - 1.9%, treasury shares - 0.1%, free float - 27.0%.
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
| For further details please contact
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| Anna Kareva IR Director Tel.: +7 (495) 792-3511 e-mail: anna.kareva@x5.ru
| Maxim Trapeznikov Head of PR Department Tel.: +7 (495) 662-8888, ext. 31 262 e-mail: maxim.trapeznikov@x5.ru
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