X5 Retail Group names new Chief Financial OfficerX5 Retail Group N.V., a leading Russian food retailer (LSE ticker: "FIVE"), announces that Svetlana Demyashkevich has been appointed as Chief Financial Officer effective from 29 June 2017. Dmitry Gimmelberg has decided to leave the Company, but will temporarily stay on as Advisor to the CEO in order to facilitate a smooth transition.
X5 Retail Group CEO Igor Shekhterman said:
"I would like to thank Dmitry Gimmelberg for his meaningful contribution to the further development of the Company's financial management function, including improvements to controls and budgeting, as well as streamlining of the investment process.
Svetlana has multifaceted experience in financial management in the banking and corporate sectors. She has worked on setting up and improving the efficiency of business planning, reporting and financial control systems, while also developing successful cooperation with major international financial institutions. With her qualifications and personal qualities, Svetlana will be able to quickly find her place in the X5 team and contribute effectively to the achievement of our strategic goals."
Svetlana Demyashkevich graduated with honours from the Financial University of the Government of the Russian Federation and is an ACCA qualified accountant. She audited financial institutions at PricewaterhouseCoopers, and was the Financial Controller at UNICEF Russia. Since 2005, Svetlana has held several senior positions at Alfa-Bank, including head of audit and IFRS reporting. She also created and led the financial control service, investor and rating agency relations, the business intelligence centre, and the centralised purchasing service. In her most recent post as Deputy CFO, Svetlana also chaired the tender committee and the credit committee for small- and medium-sized corporate clients, and was involved in the activities of the Boards of Directors of several of the bank's subsidiaries.
X5 Retail Group
X5 Retail Group is the leading food retailer in Russia. X5 shares are listed on London Stock Echange (LSE) in the form of Global Depositary Receipts. The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand and Express convenience stores.