OREANDA-NEWS. July 19, 2012. The supervisory board (the “Board”) of X5 Retail Group N.V. (“X5” or the “Company”) announced that Andrei Gusev has resigned as chief executive officer (CEO), effective immediately, but will remain available in an advisory capacity. Mr. Stephan DuCharme, a member of the Board, has been delegated by the Board to assume Mr. Gusev’s role on a temporary basis. The Board will shortly initiate a search for a new CEO.

Herve Defforey, chairman of the Board, commented:

"The Board would like to thank Andrei for having led the transformation of the Company into a true multi-format retailer, establishing a strong platform for continued growth and development. Over the past months the Company has recruited a strong team of senior managers across the main functions of the business which enjoys the full support of the Board."

Headquartered in Moscow, X5 Retail Group (LSE: FIVE, Moody's - "B2", S&P - "B+") is Russia's largest retailer in terms of revenue. The Company operates several retail formats: the soft discounter chain under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand, the online retail channel under E5.ru brand and convenience stores under various brands.

As at 30 June 2012, X5 had 3,298 Company-operated stores. It has the leading market position in both Moscow and St. Petersburg and a significant presence in the European part of Russia. Its store base includes 2,783 soft discounter stores, 341 supermarkets, 77 hypermarkets and 97 convenience stores. The Company operates 28 DCs and 1,539 Company-owned trucks across the Russian Federation.

X5 is run on an SAP platform.

As at 30 June 2012, X5's direct franchisees operated 399 stores across Russia.

For the full year 2011, net sales totaled USD 15,455 mln, EBITDA reached USD 1,130 mln, and net profit amounted to USD 302 mln. For the first quarter 2012, net sales totaled USD 3,871 mln, EBITDA reached USD 274 mln and net profit amounted to USD 66 mln.

X5 Shareholder structure is as follows: Alfa Group - 47.86%, founders of Pyaterochka - 19.85%, X5 Directors - 0.14%, treasury shares - 0.11%, free float - 32.04%.