X5 Retail Group N.V. announced the resignation of CFO, Kieran Balfe, effective March 8, 2013 and has nominated the Company's Deputy Commercial Director, Sergey Piven, to become the new CFO after X5 shareholder approval at the Annual General Meeting to be held in April 2013. Mr. Piven will assume the responsibilities of CFO effective March 8, 2013 and Mr. Balfe will be working closely with Mr. Piven over this time period to ensure an orderly transition. Mr. Piven brings almost 20 years of financial experience to the CFO role.