Amsterdam, 29 January 2019 – X5 Retail Group ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: FIVE), announces the nomination of Alexander Torbakhov to the Supervisory Board ("Board"), the establishment of the Innovation and Technology Committee of the Supervisory Board, and the creation of the Business Support department in the X5 Corporate Centre.
The nomination of Mr Torbakhov was supported by the Board on 25 January 2019 and is subject to approval by shareholders at the Company’s Annual General Meeting of Shareholders ("AGM") to be held on 10 May 2019. Subject to his appointment by the AGM, Mr Torbakhov has also been nominated as Chairman of a newly-created Innovation and Technology Committee of the Supervisory Board, established for the primary purpose of reviewing and making recommendations to the Board on issues relating to the Company’s digital strategy, innovation and technology, which are among X5’s key strategic priorities.
Mr Torbakhov has extensive experience in digital transformation processes, most recently as Deputy Chairman of the Executive Board of Sberbank, where he headed the Retail Business Unit. Prior to Sberbank, he held General Director positions in Vimpel Communications and Rosgosstrakh-Life Insurance Company. Mr Torbakhov holds an engineer degree from the Moscow Aviation Institute, an economist degree from Moscow State Institute of International Relations and an MBA from the University of Chicago (USA).
Meanwhile, operational efficiency and streamlining support to the retail formats remain key priorities: a new Business Support department at X5’s Corporate Centre was established on 25 January 2019 to better support the retail formats in the areas of transport, direct import and real estate. The Business Support department will be headed by Svetlana Volikova, who currently holds the position of the General Director of Perekrestok Express.
Ms Volikova joined X5 in 2007. She has held various positions within X5’s Corporate Centre and retail formats, including the General Director of Karusel. From 1996 to 2007, she held positions at Auchan and Danone. Ms Volikova graduated from the Higher Institute of Management in Paris, France. She qualified as an ACCA accountant in 2009.