X5 Retail Group elects new chief executive

X5 Retail Group has accepted the resignation of Lev Khasis after five years as chief executive. Its supervisory board has elected Andrei Gusev as successor with immediate effect, and will recommend to the AGM of shareholders the appointment of Gusev as chief executive from the date of the meeting in June 2011. Khasis will remain with X5 until June 1 to ensure a smooth transition.