21 September 2020, Moscow, Russia. PJSC M.Video (M.Video-Eldorado Group, the Company, or the Group), Russia’s largest consumer electronics retailer by revenue and part of SAFMAR Group owned by Mikhail Gutseriev, announces the appointment of Alexander Izosimov as CEO (General Director) of M.Video-Eldorado Group.
Mr Izosimov will focus on further developing the Group’s One Retail model, advancing the digital transformation of its business, strengthening its leadership as an online retailer of household appliances and consumer electronics in Russia, as well as further increasing shareholder value by further advancing the Group’s investor relations activities and supporting measures to improve the liquidity of its shares.
Alexander has more than 20 years of experience in senior management, CEO and Board of Directors roles across a variety of industries, including FMCG, telecom and financial markets. He spent the majority of his professional career in public companies traded on the Moscow, London, Stockholm and New York stock exchanges.
Said Gutseriev, Chairman of the Board of Directors at M.Video-Eldorado Group, commented:
‘Over the last few years, M.Video-Eldorado Group has managed to create and start adopting one of the most efficient business models in its sector globally. The Company has both the strategic vision to enable its further development and the resources to implement these plans. Strengthening our management team is critical at this stage, as these are people who will be responsible for implementing the new strategy. I am confident that Alexander’s uncompromising integrity, experience and expertise in managing digital businesses will give new momentum to the growth of our business.’
Alexander Tynkovan, President and Chairman of the Management Board at M.Video-Eldorado Group, said:
‘M.Video-Eldorado has greatly accelerated its digital transformation to the One Retail model in recent months. However, we are still at an early stage in terms of building an entirely new approach to sales and customer service based on smartphones and mobile technologies. Alexander’s experience in managing business transformations fits well into our agenda and will ultimately strengthen the professional expertise of our team.’
Alexander Izosimov said:
‘In my opinion, M.Video-Eldorado is one of the best consumer sector companies in Russia. It has always stood out for its ability to adapt to changing market conditions, and is set to achieve extraordinary, ambitious targets. The Group now faces a new challenge of going through a digital transformation and unlocking the its full growth potential. Without diminishing the complexity of the challenge or intensity of competition, I have met the extremely strong and motivated M.Video-Eldorado team and I have no doubts in our ability to succeed together.’
The CEO of M.Video-Eldorado reports to the Board of Directors of PJSC M.Video and is responsible for all of its operations. He will oversee both the managing directors of M.Video and Eldorado and heads of shared functions such as commerce, finance, HR, supply management, distribution and logistics, as well as the Chief Operating Officer who oversees the IT, business transformation and data function.
Spencer Stuart acted as the executive search advisor to M.Video-Eldorado. Alexander Izosimov will take up his duties on 1 October 2020. Enrique Fernandez, former CEO, has joined the Board of Directors at PJSC M.Video.
Alexander Izosimov was born in 1964 in Yakutsk. He graduated from the Moscow Aviation Institute with a degree in Economics.
He started his management career in 1991 in the Stockholm office of McKinsey & Company, a global strategic consulting firm. In 1995, he earned an MBA degree from INSEAD (France) and joined the London office of McKinsey & Company.
In 1996, Alexander started working in the Russian office of Mars Inc., serving as a planning manager, CFO, sales director and CEO. In 2001, Alexander became a member of the Global Executive Management Board at Mars, Inc. as Regional President for the CIS, Central Europe, and Nordic regions.
He headed OJSC VimpelCom (Vimpelcom Ltd, Veon since 2017, operates under the Beeline brand in Russia) as its CEO and President between 2003 and 2011, steering the company through a period of rapid growth, geographic expansion and manyfold increase in business operations, which transformed the company into one of the world’s leading operators.
From 2011, Alexander focused on excelling as a director on the boards of Ericsson AB, MTG AB, East Capital AB, Transcom SPA, Teleopti AB, and Baltika. Currently, he serves on the boards of directors at EVRAZ Plc, Nilar AB, Hövding AB, and the Supervisory Board of the Moscow Exchange (MOEX).