Russian International Reserves Fall $15.7 Billion in Week to Dec. 19

X5 Retail Headed for Lowest in Five Months as CEO Gusev Resigns

X5 Retail Group NV (FIVE), Russia’s largest food retailer by revenue, headed for a five-month low after Chief Executive Officer Andrei Gusev quit, effective immediately.

X5’s global depositary receipts lost 4.4 percent to $21.32 by 9:11 a.m. in London. A close at that level would be the weakest since Jan. 30.

Stephan DuCharme, a member of X5’s board, will take over on a temporary basis as the company starts a search for a new CEO, X5 said in a statement today.

To contact the reporter on this story: Ilya Khrennikov in Moscow at;

Ksenia Galouchko in Moscow at

To contact the editor responsible for this story: Gavin Serkin at

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