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Retail

Russia's Mercury Retail Announces New Board Of Directors

Russian convenience store operator Mercury Retail has announced the appointment of a new board of directors.

The board consists of six directors, including Mercury Retail’s three majority shareholders – Igor Kesaev, Sergei Studennikov and Sergei Katsiev – as well as three independent non-executive directors.

Non-Executive Directors

The non-executive directors includes Valli Perera, currently a member of the board of directors and of the compensation committee of Midmark Corporation; Natalia Barsegiyan, independent director at Mediclinic International plc and a member of the audit, remuneration and nomination committees at Domino’s Pizza Group plc; and William Pritchett, the current chief commercial officer and chief financial officer of Hershey International.

In a statement, Mercury Retail, which recently announced the postponement of its IPO, said that the addition of three independent directors to its board represents 'the next step in the development of Mercury Retail’s corporate governance in line with international best practice and Russian code of corporate governance, as the company seeks to ensure transparency and promote an effective corporate governance structure'.

The board of directors is responsible for management and supervision of the company's executive bodies and three board committees – the audit committee, the executive committee, and the remuneration and nomination committee.

Commenting on the appointment of the three independent directors, Mercury Retail added that it 'welcomes them all to the board and looks forward to their substantial contributions to the continued success of the company'.

© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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