RUSSIA: Pyatyorochka founder Vysotsky exits X5
X5 Retail's discount format director Oleg Vysotsky is leaving the supermarket group, the company has confirmed.
Vysotsky will continue to manage the business for an interim period and will serve as a "transition advisor" when a successor has been appointed, X5 said in a statement.
"The company has already identified internal and external candidates and is conducting an exhaustive search to consider the broadest pool of management talent for this position," X5 said.
Vysotsky was a co-founder of the Pyatyorochka chain, which was renamed X5 Retail Group in 2006, and has been with the group for 15 years.
The turbulence in X5's senior management line-up has prompted speculation that internal divisions have emerged since long-serving chief executive Lev Khasis left the company a year ago to join Walmart.
Collectively, Pyatyorochka founders hold a 19.85% stake in X5. When contacted by just-food, the company declined to comment on the size of Vysotsky's personal holding in the group.
Jan Fuchs has become the latest senior executive to leave Russian retailer X5 Retail Group....
Russian retailer Dixy is focusing its growth strategy on expanding its convenience store network in the country....
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- Why May's Brexit comments give reason for optimism
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report