Director of the Largest Food Retailer to Head ACORT
27 Feb 2007
Moscow, February 15, 2007 – The annual General Meeting of the Association of Retail Companies (ACORT) was held on February 14. 20 of Russia’s largest retail operators are members of the Association. During the session, the Association’s actions in 2006 were reviewed, projects planned for the near future were discussed, and a new ACORT Board was elected, including a new Chairman.
When discussing the organization’s long-term plans, it was agreed to continue the strategy of actively cooperating with government organs and regulatory bodies that deal with the retail industry (including the Federal Antimonopoly Service (FAS), the Ministry for Economic Development and Trade (MERT), the State Duma and others). ACORT’s position concerning the FAS expert commission to be held at the beginning of March was discussed with particular interest. The commission will examine the relationship between suppliers and retailers. A series of issues related to ACORT’s participation in the process of developing a federal law to regulate trade was also discussed.
During the meeting, the companies X5 Retail Group, Billa and Mosmart were unanimously accepted into the Association.
At the meeting’s conclusion, elections for a new ACORT Board were held. The new Board consists of V. Isayev (President of Snezhnaya Koroleva), A. Martinelli (General Director of Metro Cash and Carry), G. Trefilov (President of MARTA Holding), A. Tynkovan (President of M.Video), N. Fartushnyak (President of Sportmaster), L. Khasis (CEO of X5 Retail Group), and Z. Shukakidze (Director of Ashan’s legal department).
At the conclusion of the meeting, members of the Board unanimously elected X5 Retail Group CEO Lev Khasis as the Chairman of the Board. He discussed the Association’s role in the near future:
“Due to the rapid growth of modern retail formats in Russia and the increasing attention our industry receives from the government, ACORT today has an ever more significant role in framing civilized rules for working in the Russian retail market and maintaining close cooperation with state regulators and various public organizations. It also serves to protect the industry’s interests while leading discussions about how best to properly regulate the chain retail sector.”
The President of Kopeika Aleksandr Samonov, who is among the founders of ACORT and made a key contribution to the creation and development of the Association as the former Chairman of the Board, added, “The experience and personal potential of Lev Khasis will unquestionably strengthen ACORT’s authority as the industry’s leading association. He allow it to influence the process of the retail industry in the country with maximum effectiveness, in the interests of the end consumer.”
Note to editors:
The Association of Retail Companies (ACORT) was founded in 2001. Currently ACORT counts among its members 20 of the largest retail operators in Russia: Arbat Prestizh, Ashan, Billa, Evroset, Ikea, Lenta, Komus, Kopeika, MARTA Holding, M.Video, Metro Cash and Carry, Mosmart, Paterson, Real – Hypermarket, Sportmaster, Snezhnaya Koroleva, Starik Khattabich, X5 Retail Group, Tri Tolstyaka, and Eldorado.
Lev Khasis, Chief Executive Officer, Chairman of the Executive Board of X5 Retail Group
Mr. Khasis became Chairman of the Board of Directors of Perekrestok before its merger with Pyaterochka in 2006. He was a member of Perekrestok’s Board of Directors since 1999, Chairman of the Board of Directors of OAO TsUM from 2001 to 2003, and Chairman of the Board of Directors of GUM from 2003 to 2004. He graduated from the aircraft faculty of the Kyibyshevsky Aviation Institute in 1989, from the bank business faculty of the Financial Academy of the Government of the RF in 1995, and from the jurisprudence faculty of the University of the Ministry of the Interior of Russia in 2001. He defended his PhD dissertation in economics in spring of 2006. He was born in 1966.
Forward looking statements:
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By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
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