CEO quits Russia's largest retailer

CEO quits Russia

Andrei Gusev has resigned as X5 Retail Group CEO after just a year in the job. The lack of clarity over the reasons for the departure have increased concerns about the retailer, which is battling to turn around sales.

On the move: X5 CEO Gusev's departure offers cause for concern

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.

What the analysts say: The surprise exit of X5 CEO Gusev

17 July 2012

Last week's shock announcement that X5 Retail Group CEO Andrey Gusev resigned caused the Russian retailer's share price to tumble. X5 also booked a mixed set of second-quarter results that showed the retailer was only able to slow - but not reverse - declining like-for-like and customer traffic trends. Analysts in Moscow are split over its performance in the market and the outlook for the country's largest retailer, but there is agreement the departure of Gusev will come as a blow.

RUSSIA: X5 Retail H1 LFL sales fall

13 July 2012

Russian retailer X5 Retail Group has reported a fall in half-year sales, although there are signs its performance could be improving.

RUSSIA: X5 Retail CEO Gusev steps down

13 July 2012

The CEO of Russian retailer X5 Retail Group Andrei Gusev has quit after just one year in the role.

RUSSIA: X5 profit drops on flat sales

17 May 2012

Russian retailer X5 has booked a 32% drop in net profit for the first quarter as depressed consumer sentiment left sales flat.

RUSSIA: Retailer X5 reports drop in Q1 like-for-like sales

11 April 2012

X5 Retail Group saw its like-for-like sales fall almost 4% in the first three months of the year, the Russian retailer reported today (11 April).

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CEO quits Russia's largest retailer

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