On the move: X5 CEO Gusev's departure offers cause for concern
By Katy Askew | 16 July 2012
News that Andrei Gusev will stand down as X5 Retail Group chief executive caused shares in the Russian retailer to sink to a 52-week low on Saturday (14 July). The market responded negatively to fears that an unstable management team will be unable to drive growth as X5 struggles to improve organic sales trends. The sudden nature of the announcement and lack of clarity over the reasons for Gusev's departure augmented these concerns. Katy Askew reports.
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News that Andrei Gusev will stand down as X5 Retail Group chief executive caused shares in the Russian retailer to sink to a 52-week low on Saturday (14 July). The market responded negatively to fears that an unstable management team will be unable to drive growth as X5 struggles to improve organic sales trends. The sudden nature of the announcement and lack of clarity over the reasons for Gusev's departure augmented these concerns. Katy Askew reports.
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