Lev Khasis, chief executive officer at X5 Retail Group, looks set to remain in the role for a further four years following a meeting of the group's supervisory board last week.
Following the meeting, the board opted to recommend to shareholders extending the CEO's contract for a further four years, foodbizdaily reported.
'Lev Khasis has played a key role in creating X5 Retail Group in 2006 and shaping the company into what it is today – Russia's number one retailer and the most successful multinational operator,' said Hervé Defforey, chairman of X5's supervisory board.
'The supervisory board looks forward to having Lev Khasis bring X5 to the next level of development over his next term,' he added.
Mr Khasis joined the board of directors of Perekrestok in 1999, which is now part of the X5 Retail Group, before taking over as CEO of X5 upon the company's creation in 2006.
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