X5 Retail Group N.V. Appoints CEO for Ukraine
25 Jun 2007
Amsterdam, 25 June 2007 – X5 Retail Group N.V. (LSE: FIVE), Russia’s leading food retailer in terms of sales, is pleased to announce the appointment of Mr. Jacquot Boelen as Chief Executive Officer of X5 Retail Group N.V. in Ukraine.
Mr. Boelen, 47 years old, will be responsible for the general management and business development of X5 in Ukraine. He will be in charge of implementing the Group’s multi-format strategy, developing and implementing commercial and operational strategy and meeting sales and EBITDA Group targets for the Ukrainian market. Mr. Boelen will be based in Kiev and will report into Lev Khasis, CEO of X5 Retail Group N.V.
Mr. Boelen has over 25 years of retail experience having held a variety of senior positions for international operators. Most recently, he was the President and CEO of Ahold, Central Europe.
Commenting on the appointment, Lev Khasis, CEO of X5 Retail Group N.V. stated:
“The position of Chief Executive Officer in Ukraine has been created as a result of our strategic review, which identified the Ukrainian market as one of the two key geographical priorities – along with the European part of Russia - for the Group’s further expansion over the next 5 years. We are currently finalising our strategy for Ukraine, one of Eastern Europe’s largest markets with a huge potential and in which we aim to become one of the leading operators over the medium term by means of organic growth and potential selective acquisitions. We are confident that Mr. Boelen, with his extensive knowledge of the international retail business and his solid management background working for major retail companies, will contribute to the Company’s success in this market”.
Mr. Boelen commented:
“I am delighted to accept the position of CEO Ukraine, working for Russia’s leading food retail operator. X5 has a clear, long-term aggressive strategy for further expansion in one of the world’s fastest growing markets and I believe my experience in managing retail operations in Eastern Europe will help the Company to achieve its targets in Ukraine.”
Mr. Boelen’s biography:
Mr. Boelen (47 years old) started his retails career in 1982 at Vroom and Dreesmann, Holland, as sales manager, assistant store manager and store manager. From 1996 to 1999 he served as Operations Director of Makro Cash & Carry, Poland (Metro AG), subsequently serving as Country Manager of Real, Poland (Metro AG) until 2001.
In 2001 Mr. Boelen joined Royal Ahold a Europe’s leading supermarket and hypermarket operator, as President and CEO of Ahold, Poland before becoming President and CEO of Ahold, Central Europe in 2003.
He graduated from the Nederlands Instituut voor Marketing and studied business administration in the Open University in Holland.
About X5 Retail Group:
X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of 31 March 2007, the Group had 512 company-managed "Pyaterochka" soft discount stores located in the Moscow (232), St. Petersburg (215) and other Russian areas (65), and 169 company-managed "Perekrestok" supermarkets across Central Russia and Ukraine, including 99 stores in Moscow.
As of 31 March 2007, franchisees operated 533 Pyaterochka branded stores across Russia and Kazakhstan. Perekrestok had 10 stores operated by franchisees in the Moscow area.
Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 to create the clear leader in the Russian food retail market.
The Group’s audited pro-forma net sales for the FY 2006 were US $3,551 million, up +50% vs. 2005. Pyaterochka chain provided US $1,973 million of net sales, the Perekrestok chain contributed US $1,496 million of net sales, and Merkado chain contributed US $ 82 million.
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