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World's Biggest Retailer Hires Lev Khasis as a Vice President
9.09.2011 15:38
World's Biggest Retailer Hires Lev Khasis as a Vice President
Lev Khasis

Wal-Mart Stores hires Lev Khasis, former head of food retailer X5 Group, as a senior vice president and chief leverage officer, a spokeswoman of the company said on Thursday.

      Such Wall-Mart's decision can be considered as an indication that the company has not lost hopes for an entry into Russian market. To remind, in December Wal-Mart closed its office in Moscow due to a lack of acquisition opportunities.

      "We still believe in Russian market, and we'll continue, as we do in markets all over the world, to watch for the right market-entry opportunity," said company spokesman Kevin Gardne.

      Lev Khasis confirmed his appointment but didn't give any details about his intended role at the world's biggest retailer. He succeeds John Aden who has been working for Wal-Mart as a senior vice president from 2007 to 2010.

      Khasis, who grew X5 by acquisition into a Russian market leader with $11 billion in annual sales, left the company in March after five years, saying he would pursue other opportunities. The Wal-Mart spokeswoman said Khasis would be based at the company's headquarters in Bentonville, Arkansas, reporting to international chief executive Doug McMillon. His tasks will include the creation of innovation teams, the integration of acquired trading networks and a global sales synergy.

      Wal-Mart is the world's biggest retailer with about 9,000 shops in 15 countries all over the world. Last year it gained more than a fourth of its $419 billion in annual revenue from its international wing. 


Sources: Echo of Moscow The Wall Street Journal

Author: Julia Alieva

Tags: Russian businessmen Russian shops Russian business   

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