X5 Retail Regulatory News (FIVE)

14 Jul 2009 14:25



X5 RETAIL GrouP NEW Management appointments

Amsterdam, 14 July 2009 - X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: "FIVE"), today announced several new senior management appointments:

- Teimur Shternlib was appointed to the newly-created position of Deputy CEO for business support, with responsibility for IT, Facilities Maintenance and Branch Management. Mr. Shternlib previously served as the Company's Chief Information Officer.

- Mikhail Susov has been appointed General Director of Supermarket Format. Prior to this appointment, Mr. Susov was the Company's Marketing Director.

- Karina Chernikova has been appointed X5's Marketing Director. The marketing department will now comprise both marketing and advertising activities. Prior to this, Mrs. Chernikova served as a General Manager of X5 Media, the Company's advertising unit.

- Jacquot Boelen has been appointed Advisor to Chief Executive Officer. Prior to this appointment, Mr. Boelen held the position of General Director of Supermarket Format.

X5 Retail Group CEO, Lev Khasis, commented:

"We are streamlining X5's management structure to increase the Company's operational efficiency and drive productivity and growth. These new appointments focus on high-achieving industry professionals who have made substantial contributions at X5. Teimur Shternlib and Karina Chernikova are among the most notable managers in Russian retail. Mikhail Susov is an experienced top executive who will strengthen Perekrestok's leading positions in the supermarket format."

Teimur Shternlib graduated from the Moscow Institute of Steel and Alloys. Prior to joining X5 Retail Group, Shternlib served as a Chief Information Officer of Alfa Group. Since 2006, Shternlib has held the position of Chief Information Officer at X5 Retail Group. 

Mikhail Susov graduated from the Moscow University of Communications and IT with a degree in radio communications, radio broadcast and television. In 2005, he received his MBA from the National Economics Academy. Susov had held senior executive positions in a number of telecom companies, including Telecom Group, Personal Communications (Sonet) and Comstar. From 2002 to 2005, Susov served as the First Vice President at MTS (Mobile TeleSystems). From 2005 to 2008, he held the post of the CEO and was a co-founder of Effortel Group. From 2008, Susov has held the position of marketing Director of X5 Retail Group N.V. Susov was assigned the title of "Global Leader for Tomorrow-2003" at the Davos World Economic Forum. Susov has a Ph.D. in Corporate Management given on the basis of UNESCO international certification in 2006.

Karina Chernikova graduated from the Russian Economic Academy n.a. Plehanova G.V. with the degrees in Marketing and Finance. In 1997, Chernikova graduated Summa Cum Laude from Hanzehogeschool Groningen with the degrees in Marketing and Management. She started her professional career in 1996 as audio-, video- and home-appliances representative at Philips.  Starting in 2002, Chernikova served as Advertising Director of Tehnosila. Chernikova joined Perekrestok in 2005 as Marketing and Advertising Director. In 2007, she was appointed Marketing and Advertising Director of X5 Retail Group. Starting in September 2008, Chernikova served as a General Manager of X5 Media, the advertising division of X5 Retail Group.

Jacquot Boelen began his career in 1982 at the Dutch retail chain Vroom & Dreesmann, where he held a number of positions from sales manager to the General Manager of the store. From 1996 to 1999, he served as COO of Makro Cash & Carry (Metro AG), Poland. From 1999 to 2001, Boelen served as a CEO of Real (Metro AG), Poland. In 2001, Boelen joined Royal Ahold as a CEO of Ahold, Poland. In 2003, he became CEO of Ahold, Central Europe. In 2007, he joined X5 Retail Group as CEO of X5 Retail Group, Ukraine. In 2008, he was appointed General Director of Supermarket Format of X5 Retail Group.

Note to Editors:

X5 Retail Group 

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 30 June 2009, X5 had 1,164 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 900 soft discount stores, 211 supermarkets and 53 hypermarkets.

As at 30 June 2009, X5's franchisees operated 605 stores across Russia. 

For the full year 2008, X5's net sales including acquired Karusel business on a pro-forma basis totalled USD 8,892 mln, EBITDA reached USD 803 mln, and net profit adjusted for non-cash goodwill impairment charge amounted to USD 112 mln.

For the first half 2009, net retail sales totaled USD 3,959 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.