X5 Retail Group, a leading Russian food retailer, has appointed Svetlana Demyashkevich as chief financial officer with effect from 29 June. The group said Dmitry Gimmelberg had decided to leave the company, but would stay on temporarily as an adviser to chief executive Igor Shekhterman in order to facilitate a smooth transition. Shekhterman said: "I would like to thank Dmitry Gimmelberg for his meaningful contribution to the further development of the Company's financial management function, including improvements to controls and budgeting, as well as streamlining of the investment process. "Svetlana has multifaceted experience in financial management in the banking and corporate sectors. "She has worked on setting up and improving the efficiency of business planning, reporting and financial control systems, while also developing successful cooperation with major international financial institutions. "With her qualifications and personal qualities, Svetlana will be able to quickly find her place in the X5 team and contribute effectively to the achievement of our strategic goals."
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