Pyaterochka Holding NV, which was renamed X5 Retail Group yesterday (17 October), has said it will appoint Herve Defforey as chairman of the supervisory board on 2 November.
Group CEO Lev Khasis commented: “We strongly believe that the valuable knowledge and experience of Herve Defforey, one of the world’s most reputable experts of the retail business, will allow us to develop the most effective strategic model for the further development of the group, and to become the main consolidator of the Russian retail market.”
Defforey will replace David Noble, who will resign as the chairman and member of the supervisory board.
Noble welcomed the appointment of Defforey. “His knowledge and experience will be a valuable asset to the company as we consolidate our industry leading position. It has been a pleasure to chair the company through its IPO in 2005 and its recent merger with Perekriostok,” Noble commented.