Bulgarian Retail Chain Piccadilly with New CEO

Nikolay Neshev was appointed CEO of the Bulgarian operations of the Piccadilly retail chain. Photo by Piccadilly

Nikolay Neshev, who until now was the finance manager of the "Piccadilly" retail chain, has been appointed Wednesday at the CEO post.

His predecessor at, Alexander Camparevic, takes over the management of "Delta Maxi International" – a subsidiary of the Serbian firm Delta Holding, the majority owner of the Bulgarian retail chain Piccadilly. "Delta Maxi International" oversees markets in Bulgaria, Monte Negro, Bosnia, Herzegovina and Albania.

Neshev has been part of the retail chain management since 2008. His career includes Finance Director of "Cumerio Med," and jobs at the Economy Ministry and "Price Waterhouse Coopers."

In a statement to the media, the new CEO announces his main priority would be to reinforce and safeguard the leading role of Piccadilly on the retail market in Bulgaria and to focus on investments and innovations in new concepts and formats.

Serbia's largest privately-held company bought a majority stake in Bulgarian retail chain Piccadilly in September 2007 and has so far invested a total of EUR 140 M in Bulgaria, including taking over the remaining 15% percent of shares in 2009.

The chain now has 26 stores in 10 Bulgarian cities and towns – 20 supermarkets and 6 corner-shop stores known as "Piccadilly Express."

The company plans to expand and introduce all its formats in Bulgaria such as Piccadilly Express, the Tempo hypermarkets – a combination cash and carry and soft discounter, and franchises. The first Tempo hypermarket is currently under construction near the Central Railway Station in downtown Sofia.

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