M.Video PJSC, Russia's leader in e-commerce and retail of electronics and home appliances (Moscow Exchange: MVID), announces the decisions of its Board of Directors. Felix Lieb, who previously served as Chief Executive Officer of M.Video, has been elected Chairman of the Board of Directors. Vladislav Bakalchuk has been appointed CEO of M.Video.
Chairman of the Board of Directors of M.Video, Felix Lieb:
"The past year was a turning point for M.Video. We've implemented a deep transformation of our business model. The key strategic step was the transition to an agency supply scheme with our largest suppliers. Whereas previously the Company operated under a classic goods buyout model, which required significant working capital and the attraction of debt financing, today we sell products under an agency model, settling with suppliers upon actual sales.
This step made it possible to significantly reduce the financial burden in the conditions of high key interest rates, maintain business stability, and lay the foundation for long-term development. We were able to secure well-stocked warehouses and a wide assortment of products from our leading brand partners for our customers. In fact, a new market operating model was created, with no precedent in the industry.
Despite the cooling of consumer demand and economic challenges, the Company strengthened its position as an omnichannel platform and made a great leap forward in developing its own marketplace. In my new role, I will focus on the strategic development of the Company and overseeing the implementation of key decisions of the Board of Directors."
CEO of M.Video, Vladislav Bakalchuk:
"Since August of last year, we have been systematically rebuilding M.Video: strengthening the marketplace, accelerating online sales, modernizing IT infrastructure and logistics. Today, this already shows some measurable results.
By the end of 2025, the marketplace turnover reached 14.1 billion roubles. The fourth quarter was a record in the entire history of the project — 6.6 billion roubles, with December growing 37% compared to November and 83% year-on-year. This confirms the validity of the chosen strategy and the scalability of our model.
We are expanding our assortment beyond electronics — developing categories in sports, furniture, motor vehicles and automobiles, attracting new partners and strengthening our logistics infrastructure.
My goal is to transform M.Video into a universal multi-category platform. We are building on a strong brand, a federal retail network, and a customer base of 80 million. Our focus is on improving efficiency, developing digital channels, and further scale-up of the marketplace."
Biographies:
Felix Grigoryevich Lieb was born on November 11, 1978, in Lyubertsy, Moscow Region. He graduated from the International Institute of Economics and Law, and subsequently completed postgraduate studies at the Institute of Legislation and Comparative Law under the Government of the Russian Federation. He began his career in the field of corporate governance and investments. From 2012 to 2021, he held senior positions at AFK Sistema, one of Russia's largest investment companies, where he served as Executive Vice President and Executive Director.
In January 2022, Felix Lieb was appointed the CEO of the Natura Siberica group of companies, Russia's leading producer of natural and organic cosmetics. Under his leadership, the company was able to stabilize its business following a crisis period, increasing its revenue to record levels. In July 2024, Felix Lieb transitioned to the role of Chairman of the Board of Directors of Natura Siberica, handing over the position of CEO to Sergei Bykovskikh.
Felix Lieb has extensive experience in crisis management, having successfully implemented business stabilization and recovery programmes in challenging market conditions. At Natura Siberica, under his leadership, a large-scale restructuring was carried out, which allowed the company to maintain its position in the Russian market and expand internationally.
From February 2025, Felix Lieb served as Chief Executive Officer of M.Video PJSC.
Vladislav Sergeyevich Bakalchuk was born on February 24, 1977, in Lyubertsy, Moscow Region.
In 1997, he graduated from the Moscow Power Engineering University with a specialization in radio physics. From the late 1990s, he began engaging in business. In 2002, together with Alexei Fadeyev, he founded the internet provider UTech. In 2004, together with his wife Tatyana, he launched the online clothing retail platform Wildberries. At the end of 2006, he completely withdrew from managing his own projects and focused on the family business.
Through his operations management in Wildberries, he transformed the platform into the country's largest marketplace and a fully-fledged IT company. He developed and improved the banking, HR, logistics, warehousing and IT systems of the business, achieving a leading position in the e-commerce market.
From August 2025, Vladislav served as Chief Executive Officer of M.Video Company.
Link to photos: