X5 Retail Group, Russia's largest retailer in terms of sales, has announced that it has accepted the resignation of chief executive officer Lev Khasis after five years at the helm of the company.
According to a news release, the company's supervisory board has elected deputy CEO Andrei Gusev as the new CEO with immediate effect, with Mr Khasis remaining with the company through until 1 June 2011 to ensure a smooth transition.
'We would like to thank Lev Khasis for his leadership and dedication to our company over many years,' said Hervé Defforey, chairman of the supervisory board. 'Lev has made an outstanding contribution to X5 and brought a strong focus on serving customers. During Lev's tenure as CEO, the company has grown more than fourfold in size. We wish him great success in his future endeavours.
'This management change occurs at a time of strength and momentum for our company,' he added. 'I have been working with Andrei Gusev over the last five years. I am convinced that the company under Andrei's leadership will continue to be the dominant player in Russian retail in the years to come.'
Lev Khasis noted that his five years had been some of the 'most amazing of my life', adding that he was proud of X5's achievements while he was at the helm.
'I believe it is time for me to focus on other opportunities in life, and I will remain a loyal customer and shareholder of X5,' he commented. 'It has been a great pleasure working with Andrei since X5 was created and prior to that serving together with him at the Board of Perekrestok where I served as Chairman, and I wish him all the success in taking the business to new highs building on the strong platform we created.'
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