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.
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“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.
His resignation follows a string of high level management departures, including the exit of X5’s supermarket director and its hypermarket chief.
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.
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By GlobalDataKhasis was repleaced by Andrei Gusev, who has cut the company’s growth target and reported a 2% fall in fourth-quarter like-for-like sales, the company’s first since its inception.
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.
