Amsterdam, 18 January 2022 – X5 Retail Group N.V. (“X5” or the “Company”, LSE and MOEX ticker: FIVE), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Chizhik retail chains, announces changes in its top management team. Vladislav Kurbatov, previously the general director of Perekrestok supermarkets, was appointed general director of Pyaterochka proximity stores to replace Sergei Goncharov, who has decided to leave the company. Sergei will remain as an advisor to the X5 CEO in order to ensure a smooth transition.
Igor Shekhterman, CEO of X5 Group, said:
“In his four years at X5, Sergei Goncharov has successfully implemented a strategy of transformation, digitalisation and renovation of the proximity store format. The Pyaterochka team managed to reduce shrinkage and staff turnover, and significantly increase profitability. The format also launched and developed an express delivery service. During Sergei’s tenure as general director, Pyaterochka’s sales have almost doubled to two trillion roubles, and the number of stores has grown from 13 to 18 thousand. With its good level of service, convenience, freshness and affordable prices, Pyaterochka has become one of Russia’s favourite brands.
“Looking ahead to the next stage of market development, our proximity store format should consolidate its leadership position and focus on increasing sales density, improving price perception, and increasing efficiency by reducing costs. Vladislav Kurbatov will address these tasks. Working in the X5 team since 2015, when he was the operations director at Perekrestok, Vladislav has successfully accomplished similar tasks in the supermarket format, which he has led since June 2018. By leveraging the competencies available to X5’s top team in terms of change management, we are redirecting his expertise to where it is most relevant. I am confident that Vladislav’s extensive professional experience, with the support of the whole X5 team, willsustain balanced growth, attractiveness and efficiency of Pyaterochka’s business.”
Vladimir Sadovin was appointed acting general director of Perekrestok. He joined the X5 team in 2021 as strategic marketing director. Vladimir has more than 20 years of experience in the retail industry, including leading Azbuka Vkusa from 2004 to 2018. Vladimir will continue to work on the implementation of Perekrestok’s strategy in the context of X5’s overall goals.