Russian grocery retailer Seventh Continent has appointed former chairman Alexander Ageenkov as CEO of the company.

It said on Friday (1 July) that, following the company’s AGM on Thursday, the responsibilities of former CEO Boris Morozov “expired”.

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With Ageenkov becoming CEO, it elected Vladimir Senkin as chairman of the company’s board of directors.

Seventh Continent said in early June that 2010 operating income reached RUB3.06bn (US$109.9m) against RUB3bn in 2009. Sales rose to RUB46.3bn from RUB44.6bn.

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