Alexander Savin resigns from X5 supervisory board
X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), today announced the decision of the Companys Supervisory Board to accept Alexander Savin's resignation from the Company's Supervisory Board effective 17 September 2009 pursuant to Mr. Savin's decision to concentrate on his own business activities.
Chairman of X5's Supervisory Board Herv Defforey commented:
"I would like to thank Alexander Savin for his contributions to the Company s development since his appointment to the Supervisory Board in 2006, and to wish him great success in his future endeavours."
Alexander Savin's replacement at the Supervisory Board will be considered in accordance with the Rules governing the Principles and Practices of the Company's Supervisory Board.
X5 Retail Group N.V. is Russia's largest retailer in terms of sales. The Company was created as a result of a merger between Pyaterochka (soft discounter chain) and Perekrestok (supermarket chain) on 18 May 2006. In June 2008, X5 acquired Karusel hypermarket chain and substantially strengthened its position in hypermarket format.
As at 30 June 2009, X5 had 1,164 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 900 soft discount stores, 211 supermarkets and 53 hypermarkets.
As at 30 June 2009, X5 s franchisees operated 605 stores across Russia.
For the full year 2008, X5 s net sales including acquired Karusel business on a pro-forma basis totalled USD 8,892 mln, EBITDA reached USD 803 mln, and net profit adjusted for non-cash goodwill impairment charge amounted to USD 112 mln.
For the first half 2009 X5 s net sales totalled USD 3,978 mln, EBITDA reached USD 347 mln, and net profit amounted to USD 48 mln.
X5 Shareholder structure is as follows: Alfa Group – 47.9%, founders of Pyaterochka – 23.1%, X5 Management – 1.9%, treas ury shares – 0.1%, free float – 27.0%.
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