Moscow, 25 January 2021 – X5 Retail Group, a leading Russian food retailer operating the Pyaterochka, Perekrestok, and Karusel chains, has taken home the 2020 East Capital Award for the Best Corporate Governance.
The East Capital Awards trace their history back to 2004. East Capital, the asset manager that gives out the awards, is one of the largest international portfolio investors in Russia and a minority shareholder of X5 Retail Group. Apart from Best Corporate Governance, awards are given for nominations including Best Growth, Best IPO, and Discovery of the Year.
"X5 has consistently demonstrated best-in-class governance, as evidenced by its industry-leading returns on invested capital and strong growth. We are confident that its emphasis on transparent capital allocation and its strong management team, which is one of the most gender-diverse in Russia, will establish it as a leader in the Russian food retail industry for years to come," East Capital commented.
According to the asset manager, 2020 saw X5 Retail Group strengthen its position in sustainable development. East Capital praised X5 for having committed itself to the Science Based Targets initiative (SBTi) and aiming to achieve carbon neutrality by 2050: "Done by the largest retailer in the country, this will have a profound impact throughout the retail value chain and hopefully set a standard for other companies to follow."
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