UPDATE: Magnit appoints former X5 Retail unit head as CEO

(Adds quote, details in last 2 paragraphs)

MOSCOW, May 16 (PRIME) -- Russian retailer Magnit has appointed Olga Naumova, head of the Pyatyorochka store chain, part of the X5 Retail Group, as its CEO, the company said in a statement on Wednesday.

Naumova will supervise operating management, development of all modes of stores, finances, pricing, marketing, maintenance, logistics and house brands.

An official of X5 Retail Group said that the retailer regrets that Naumova has broken her obligation not to take positions at its rivals.

“However, we wish Olga and her employers all the best,” the official said.

End