Despite only being in role for a year, poor results have resulted in Andrei Gusev’s resignation
On the day that Russian’s leading grocery retailer X5 Retail Group released a mixed set of results for the second quarter and first half of the year, its chief executive officer Andrei Gusev has announced his resignation.
According to a press release from the company, Stephan DuCharme, a member of the group’s supervisory board, will step into the role on a temporary basis with the board set to begin a search for a long-term replacement.
X5’s operational results revealed that second quarter like-for-like sales fell 1.1 per cent, following drops of 3.9 per cent and 2 per cent in the two previous quarters, while half-yearlike-for-like salesdropped 2.5 per cent.
Source: www.fruitnet.com