Why is this important
A change in management in Uzbekistan’s leading retail chain can impact the company’s growth strategy, operational goals, and investment attractiveness. The transition period is a time of risk and opportunity for the retail market.
What happened
- Rud Pedersen joined Korzinka in August 2022 as a financial director, and from January 1, 2024, he held the position of CEO.
- He announced his departure, explaining his decision as a desire to spend more time with his family and reduce international travel.
- The official departure date is September 30th, but Pedersen will continue to advise management on smooth transfers.
- Akmal Asadov, who previously held the position of First Deputy General Director, will serve as Acting General Director until the appointment of the permanent head.
- During Pedersen’s tenure, Korzinka attracted $110 million in investments, opened over 100 stores, and launched a 49,000 m2 distribution center.
What they say
Zafar Hashimov, Chairman of the Board of Directors, expressed his gratitude to Pedersen for his contribution to the network’s growth and emphasized that Korzinka will continue to implement its ambitious expansion strategy.
Pedersen himself noted that leaving does not mean refusing to participate — he is ready to provide consultations during the transition period.
Context
Korzinka is one of the largest supermarket chains in Uzbekistan, uniting more than 170 stores. The project to expand the network to 1,000 stores by 2028 is part of the strategic plans. The departure of a foreign manager against the backdrop of maintaining the company’s active investment program could become a turning point for the attractiveness of Uzbek retail.
