X5 Retail Group extends CEO’s leadership

The supervisory board of X5 Retail Group has recommended that shareholders extend the term of Lev Khasis, the group’s CEO, for four years, X5 Retail said in a statement. The new term would start in May 2010. The Chairman of the group's Supervisory Board, Herve Defforey, was quoted as saying: "Lev Khasis has played a key role in creating X5 in 2006 and shaping the company into what it is today, Russia's number one retailer and the most successful multi-format operator." Khasis joined Perekrestok's Board of Directors in 1999, later becoming its Chairman in 2002 until its merger with the Pyaterochka in 2006.