M.Video-Eldorado’s Board of Directors approves Sergey Li as Managing Director of OneRetail

31.01.2022 13:10

M.Video-Eldorado Group, Russia’s leading e-commerce and consumer electronics retailer (MOEX: MVID), announces changes to its management team. The Board of Directors of PJSC M.video has approved Sergey Li as Managing Director of OneRetail. He will replace Dagmara Ivanova, who has decided to leave the Company. Sergey’s track record includes over 20 years of consumer electronics market experience in various roles in purchasing, retail sales and with suppliers.

Heading the OneRetail unit, which integrates the management of M.Video and Eldorado, Sergey Li will be responsible for implementing customer-centric development strategies for both brands; he will also focus on managing day-to-day operations in retail, customer service, marketing, mobile platform and other e-commerce areas. Sergey will start on February 1st and will report directly to Enrique Fernandez, CEO of M.Video-Eldorado Group.

Sergey’s key objectives include bolstering sales and streamlining business processes, including enhancing customer relationship practices and improving service quality. Other priorities include strengthening the Company’s position in a competitive market by accelerating digital transformation and further development of the OneRetail technological platform with a focus on customer journeys and needs. OneRetail’s unique stack of digital services and products is designed to integrate stores, website, and consultant and customer mobile apps into a single ecosystem that enables seamless navigation and the most convenient, personalized and beneficial shopping experience.

Sergey Li graduated from the Moscow Technical University of Communications and Informatics. He led business development in the Russian branch of Philips in 2001-2004. In 2004–2008, he was Manager and Executive Director at Eldorado and Sulpak (Kazakhstan), moving on to run the Consumer Electronics Division at M.Video in 2008–2018 and serve as Managing Director of Eldorado between January 2018 and June 2020. For the past six months, Sergey has been Chief Operating Officer at Detsky Mir Group.

Enrique Fernandez, CEO of M.Video-Eldorado Group:

“M.Video-Eldorado already operates outside the boundaries of traditional retail and is rapidly evolving as a tech player with well-developed retail and logistics infrastructure. Customers are at the center of our approach to business and we always seek to make them happy by offering a more personalized experience. We will capitalize on our long-standing expertise, well-developed IT platform and other competitive advantages as we continue to scale up our business with the aim of achieving a GMV of RUB 1 tn by 2025.

To achieve further progress towards our strategic objectives, we have turned to Sergey Li. He has a proven, extensive track record with the Company and is well acquainted with our strategy. Sergey is an established leader whose unique expertise in different retail segments will help streamline business processes and accelerate the adoption of new value-creating practices dealing with new retail formats, services, partnerships and everything in between.

On behalf of the Board of Directors and the entire Company, I would like to thank Dagmara Ivanova for successfully integrating the management teams of the M.Video and Eldorado brands, ensuring robust business performance amid COVID-19-related restrictions and meaningfully contributing to the inception and implementation of our OneRetail strategy. I wish her every success in her future career and professional growth.”