OREANDA-NEWS. On 20 February 2008 X5 Retail Group N.V., Russia's largest food retailer in terms of sales, announced Mr. Alexander Kosiyanenko’s resignation as a member of its Supervisory Board. 

As per 13 February 2008 Mr. Alexander Kosiyanenko resigned as a member of the Supervisory Board of X5 Retail Group due to his intention to concentrate on other business areas and sectors of the economy.

Mr. Kosiyanenko helped to found Perekrestok in 1994 and from that time until May 2006 held the position of Chief Executive Officer of that company, building Perekrestok into one of the largest supermarket chains and leading retailers in Russia. Following Perekrestok’s merger with Pyaterochka in May 2006, Mr. Kosiyanenko served on the Supervisory Board of X5 Retail Group N.V.  During his years of office Mr. Kosiyanenko contributed significantly to the overall strategy and development of the Group.

A replacement for Mr. Kosiyanenko, in accordance with the Rules governing the Principles and Practices of the Supervisory Board, is being considered and the decision will be announced in due course.