18th Oct 2006 07:00
Pyaterochka Holding N.V.18 October 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN 18 October 2006 NEW CHAIRMAN OF THE SUPERVISORY BOARD OF X5 RETAIL GROUP N.V. (PYATEROCHKA HOLDING N.V.) Amsterdam, 18 October 2006 - X5 Retail Group N.V. (Pyaterochka Holding N.V.)Russia's leading grocery retailer, announced today its intention to appoint Mr.Herve Defforey as the Chairman of the Supervisory Board on 2 November 2006. Group CEO Lev Khasis commented: "The merger between Pyaterochka and Perekriostokchains, completed in May 2006, created the clear leader in the Russian foodretail market, and provided the company with a solid multiformat platform forits further growth. We strongly believe that the valuable knowledge andexperience of Herve Defforey, one of the world's most reputable experts of theretail business, will allow us to develop the most effective strategic model forthe further development of the Group, and to become the main consolidator of theRussian retail market." Mr. David Noble will resign as the Chairman and Member of the Supervisory Boardas per 2 November 2006. David Noble commented: "I welcome the appointment of Mr. Herve Defforey whowill assume his duties as Chairman of the Supervisory Board on November 2nd. Hisknowledge and experience will be a valuable asset to the company as weconsolidate our industry leading position. It has been a pleasure to Chair thecompany through its IPO in 2005 and its recent merger with Perekriostok" "We appreciate David's contribution to our success and wish him the best ofluck with his future business opportunities," Mr. Lev Khasis said. Note to Editors: Herve Defforey Herve Defforey started his career as a marketing manager in Nestle Co. in 1975.From 1977 he worked in Chase Manhattan Bank N.A. which he left in the positionof Vice President in 1983. From 1983 to 1990 he held top positions in BMW AG. In1990 he took up the duties of the Managing Director in Azucarrera EBRO S.A. In1993-2004 served as Finance Director and General Manager in Carrefour, S.A. From2001 Mr. Defforey is a Partner in GPR Partners where he also serves as ExecutiveChairman for Europe. X5 Retail Group N.V. (Pyaterochka Holding N.V.) X5 Retail Group N.V. (Pyaterochka Holding N.V.) is Russia's largest foodretailer in terms of sales. As of 30 September 2006, the group had 420company-managed "Pyaterochka" soft discount stores located in the Moscow (199),St. Petersburg (199) and Yekaterinburg (22) areas, and 141 company-managed"Perekrestok" supermarkets across Central Russia and Ukraine, including 81stores in Moscow. As of 30 September 2006, franchisees operated 539 Pyaterochka branded storesacross Russia, in Ukraine and Kazakhstan. Perekrestok has 10 convenience storesoperated by franchisees in the Moscow area. Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 tocreate the clear leader in the Russian food retail market. Pyaterochka's 2005 net sales (pre-merger) reached USD 1,359 million, with grossbanner sales in 2005 of over USD 2 billion. Perekrestok net sales reached USD1,015 million in 2005. The Group's pro forma (assuming both chains contribution from 1 January 2006)net sales for the first half of 2006 were US $1,581 million (managementaccounts). During 1H 2006, the Pyaterochka chain provided US $906 million of netsales, while the Perekrestok chain contributed US $675 million of net sales. Forward looking statements: This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identifiedby the fact that they do not only relate to historical or current events.Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or otherwords of similar meaning. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, a number of which are beyondPyaterochka Holding N.V.'s control. As a result, actual future results maydiffer materially from the plans, goals and expectations set out in theseforward-looking statements. Any forward-looking statements made by or on behalf of Pyaterochka Holding N.V.speak only as at the date of this announcement. Save as required by anyapplicable laws or regulations, Pyaterochka Holding N.V. undertakes noobligation publicly to release the results of any revisions to anyforward-looking statements in this document that may occur due to any change inits expectations or to reflect events or circumstances after the date of thisdocument. - End - Enquiries to: X5 Retail Group N.V. (Pyaterochka Holding N.V.) Gennady Frolov Head of Corporate Communications Office +7 495 984 6956 Mobile +7 495 998 3335 Email [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
X5 Retail