Amsterdam, 8 February 2024 – 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, invites the Company’s shareholders and holders of its global depository receipts to an Extraordinary General Meeting of Shareholders (the ‘EGM’) to be held at Zuidplein 196, 1077 XV Amsterdam, The Netherlands at 11.00 am CET on Wednesday, 27 March 2024.
The record date for shareholders eligible to participate in the EGM is 28 February 2024.
Agenda items to be discussed at the EGM are:
- Composition of the Supervisory Board
- Appointment of Julia Solovieva as member of the Supervisory Board
- Appointment of Azer Talybov as member of the Supervisory Board
- Appointment of Alexey Kornya as member of the Supervisory Board
- Amendment of the remuneration policy for members of the Management Board
The EGM agenda, together with explanatory notes and the amended remuneration policy, is available on the X5 website at: https://www.x5.ru/en/about/general-meeting-of-shareholders/
Additionally, X5 announces the following decisions of the Supervisory Board:
- to nominate Igor Shekhterman as X5 Chief Executive Officer for an additional one-year period, to be re-appointed upon termination of his current mandate in 2025, as such aligning the terms of his contract with the existing contract terms for X5 President Ekaterina Lobacheva who’s appointment term runs until the 2026 AGM, and
- to establish a Board of Directors at the level of X5 Corporate Centre LLC, the Russian-based consolidation center for X5’s operational assets, to be composed of current members of X5’s Supervisory Board.
The Supervisory Board believes these steps will help the Company to strengthen the continuity and governance of its operations in Russia, and to support the work and long-term motivation of its executive team.