O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, today announces changes to its corporate management. Armin Burger, who until recently headed both retail formats of the Company, will focus on managing the discounter segment in the role of Chief Executive Officer of DA! business. Konstantin Arabidis, current O’KEY Chief Financial Officer, is taking over the role of Chief Executive Officer at O’KEY hypermarket segment.
O’KEY Group has today announced changes to its corporate governance.
Armin Burger, who has served as Chief Executive Officer for both O’KEY hypermarkets and DA! discounters since 2018, will focus on the development of the discounter segment as a key area of growth of the Group's business as CEO of the format. Armin's goals will include further development of the discounter business, increasing its operational efficiency, profitability and competitiveness in the current market environment.
In parallel, Konstantin Arabidis, who has served as Chief Financial Officer, is taking over the role of Chief Executive Officer of O’KEY on 15 November 2023.
Konstantin Arabidis has been O’KEY Chief Financial Officer and a Management Board member since 2016. In his role, he has been actively worked on the Company’s strategy, business development, and operational efficiency and has a significant depth of knowledge and experience in retail business. Konstantin started his career at PWC and held various positions there before joining O’KEY in 2012.
Both Armin Burger and Konstantin Arabidis in their roles will report directly to the Group’s Board of Directors.
The Board of Directors of the Group thanks Armin for his work at O’KEY hypermarkets over the past five years. Under his leadership, the Company significantly transformed and modernised the hypermarket business concept and managed to deliver sound results despite the challenging market environment. In the future, Armin's main focus will be on strengthening the positions of DA! discounters and improving the efficiency of this perspective segment of the Group's business.
One of the main tasks of the O’KEY management team under the leadership of Konstantin Arabidis will be further transformation of the format in order to strengthen its market position, improve customer proposition and increase operational efficiency of O’KEY hypermarkets.