OREANDA-NEWS. On 23 June 2008 X5 Retail Group N.V., Russia's largest food retailer in terms of sales, announced the appointment of Mikhail Kuprish as Chief Development Director of the Company effective 30 June 2008.  Mr. Kuprish is currently X5 Retail Group’s Vice President of Small Format Development.  Starting from 30 June 2008 he will be responsible for implementing the Company’s strategy with respect to organic development of all of X5’s store formats.  The current Chief Development Director Andrei Rybakov is leaving the Company for personal reasons.

Andrei Rybakov is one of the longest-serving employees of X5 Retail Group – he has worked at Perekrestok since 1995 and played an active role in the Company’s founding and development. After the merger of Perekrestok and Pyaterochka and the creation of X5 Retail Group in May 2006, he was appointed Chief Development Director of the Company.

“Andrei Rybakov’s contribution to our Company’s success is difficult to overstate.  Throughout these years he has been an example of commitment and talented management; he served as a director of one of the most important areas of our operations and played a role of a mentor to our young employees.  We are grateful for everything Andrei has done for the Company, and we wish him good luck and prosperity in his undertakings and private life,” said Lev Khasis, CEO of X5 Retail Group.

Mr. Khasis added, “I would also like to welcome Mikhail Kuprish to his new position.  Mikhail has worked at the Company since 1999 and has a deep understanding of our business.  Active organic development is an integral part of X5’s growth strategy and one of the key tasks faced by the Company.  I am confident that Mikhail is completely prepared for his new role.”

Mikhail Kuprish graduated from the St. Petersburg Higher Military School in 1997 with a degree in Engineering and Bridge Building.  He served as an officer in the Russian military from 1997 until 1999, when he joined Pyaterochka as a specialist in searching for real estate and worked his way up to become Vice President of Small Format Development of X5 Retail Group.