Karusel hypermarket format head to step down

Amsterdam, 9 February 2016

X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer (LSE ticker: “FIVE”), announces today that Vardan Dashtoyan has informed the Company of his intention to step down as General Director of the Karusel hypermarket chain in order to return to his own business ventures.

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