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Retail

X5 Proposes To Extend CEO Shekhterman’s Tenure For Two Years

The supervisory board of Russia’s X5 Retail Group has proposed to extend the tenure of Igor Shekhterman as the company's CEO by two years.

Shekhterman’s tenure as the top boss is scheduled to expire in May 2021.

Upon approval, he will continue to lead the company up to the day of the annual general meeting of shareholders in 2023.

'Successful Development'

The chairman of X5 Retail Group's supervisory board, Stephan DuCharme, commented, "The Supervisory Board is very pleased with the results that X5 has achieved in recent years under the leadership of Igor Shekhterman and the senior management team.

“We are confident that implementation of the strategy to 2023 will mark another stage of successful development for the company."

Shekhterman will be responsible for implementing X5's strategy to 2023, which was approved by its supervisory board in June of this year.

Focus Areas

The strategy includes elements such as leadership in the Russian food market through presence in all stages of the customer journey, more efficient operations, and continued digital transformation.

The retailer also aims to establish a flexible operating model that focusses on sustainable development and proximity with consumers.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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