X5 Retail Group N.V. (FIVE.L) reported preliminary fourth-quarter net retail sales of 133.88 billion rouble; an increase of 8.6% from last year. Full year 2012 net retail sales were 490.09 billion rouble; an increase of 8.3% from prior year. The Group also announced the results of its Supervisory Board Meeting.
At the Meeting, the Supervisory Board agreed to accept the resignation of X5’s CFO, Kieran Balfe, effective 8 March 2013 and has nominated the company’s Deputy Commercial Director, Sergey Piven, to become the new CFO after X5 shareholder approval at the Annual General Meeting. Piven will assume the responsibilities of CFO effective 8 March 2013. At the Meeting, the Supervisory Board nominated the company’s acting CEO, Stephan DuCharme, to become statutory CEO subject to X5 shareholder approval at the Annual General Meeting. The Board also agreed to accept DuCharme’s resignation as a Supervisory Board member effective immediately.
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by RTT Staff Writer
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