Russia's X5 names new top management, sales up in 2012
MOSCOW Jan 14 (Reuters) - Russia's biggest food retailer X5 said on Monday that its board of directors has nominated Stephan DuCharme to become the company's chief executive officer, subject to shareholder approval.
DuCharme has been the company's acting CEO. The company has also named Sergei Piven as its new chief financial officer, replacing Kieran Balfe, effective March 8.
X5 also said that its preliminary numbers showed that sales rose to 490.1 billion roubles ($16.1 billion) last year, up from 452.5 billion roubles a year earlier.
Fourth-quarter sales rose 8.6 percent to 133.9 billion roubles, the company said in a statement.