16 August 2016

X5 Retail Group announces senior management appointments

Moscow, 16 August 2016

X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer (LSE ticker: “FIVE”), today announces appointments to the senior management team.

Dmitry Gimmelberg has been appointed as Chief Financial Officer (CFO), with effect from 17 August.

X5 Retail Group CEO Igor Shekhterman said:

“Dmitry Gimmelberg has more than 20 years of executive and financial management experience in a variety of contexts, including corporate central offices and operating companies. Combined with his leadership qualities, I am confident that Dmitry has the right skills and experience to further enhance the efficiency of X5 based on our decentralised, multi-format operating model”.

Prior to joining X5, Dmitry Gimmelberg served as Deputy CEO for Strategic Development at Locomotive Technologies (part of TransMashHolding Group). From 2012 to 2015, he held senior roles within the Basic Element Group operating company. In these positions he oversaw a number of strategic transformations at operating companies, established management and financial reporting systems and led a project management office. Between 2008 and 2011 Dmitry Gimmelberg held management positions at Invest AG, a Russia and CIS focused investment advisory business. Prior to that, in 2002-2006, he worked for Ritzio Entertainment, where he was a member of the Board of Directors and Vice President for Finance, Legal Affairs, International Development and Property. Before that he worked in the FMCG sector, when he held the position as Finance Director for Russian Standard Vodka. Dmitry graduated with honors from the Saint-Petersburg State Polytechnic University and holds an MBA from the Maastricht School of Management.

Maksym Gatsuts has been appointed as CEO of the Karusel format, with effect from 22 August.

With 20 years of managerial experience at various multinational industry leaders, Maksym Gatsuts has extensive expertise in food retail. From 2002, he worked for the METRO Group, holding positions as Store Manager, District Manager, Operations Director at METRO Cash & Carry Ukraine and Customer Management Director at METRO Cash & Carry Portugal. From 2012, he served as Operations Director and a member of the Management Board at METRO Cash & Carry Russia. Maksym Gatsuts graduated from Moscow Aviation Institute and holds an MBA from INSEAD.

Igor Shekhterman commented:

“We are delighted to welcome Maksym to our team, and believe that his experience and in-depth industry expertise, coupled with his professional skills, will give K​arusel a fresh impetus”.