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....
- Why Mars rice plan not just crop-ticking exercise
- ConAgra Foods: what could happen next? - analysis
- Greencore's food-to-go focus paying dividends
- Interview: Ritter sees growth potential in US, EU
- How Danone aims to meet its 2020 objectives
- Pinnacle to buy Boulder Brands in $975m deal
- Aryzta regional CEO steps down
- Maple Leaf Foods to cut over 400 jobs
- Hovis plans cuts amid anxiety over UK bread demand
- "Serious" suitors lined up for Chicken of The Sea