Stephan DuCharme nominated as Chairman of the Supervisory Board
Amsterdam, 8 September 2015
X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer (LSE ticker: “FIVE”), today announced that Stephan DuCharme has decided to step down as CEO of X5 having successfully completed X5’s turnaround. He will return to the Company’s Supervisory Board (the “Board”) as its Chairman, subject to his nomination as a Board member being approved by the Company’s shareholders at an extraordinary general meeting (“EGM”) to take place in November this year. The Board has nominated Igor Shekhterman, currently member of the Board, to succeed Stephan as CEO of the Company.