LNTA.L Regulatory News (LNTA)

Lenta announces appointment of Rud Pedersen as Chief Financial Officer

St. Petersburg, Russia; 1 April, 2019 - Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the appointment of Rud Pedersen as Chief Financial Officer (CFO) of Lenta Ltd. with an immediate effect.

As announced on 9th November 2018 Rud Pedersen is joining the Company as CFO replacing Jago Lemmens. Rud has now completed the notice period with his previous employer and started the Lenta CFO role from 1st April 2019. Rud also automatically becomes a Director of Lenta Ltd. by virtue of his CFO role, as stipulated in the Company's Articles of Association. As mentioned in the prior announcement, Jago Lemmens will support Rud for a transitional period.

Rud Pedersen previously served as CFO of Carlsberg Eastern Europe and was responsible for operations in five FSU markets. Over the last 25 years he held a number of senior management positions in a diverse range of businesses, including FMCG, fashion and apparel retail, pharma. He has had experience in regional and group level roles, including Cadbury (Russia), Astrazeneca (Belgium), Levi Strauss (Belgium) and IC Group (Denmark). He started his career with Deloitte.

Rud graduated from Aarhus School of Business (Denmark) with the Master of Science degree in International Business Administration & Commercial Law and has an EMBA from London Business School (UK).

About Lenta

Lenta is the largest hypermarket chain in Russia and the country's third largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 245 hypermarkets in 88 cities across Russia and 135 supermarkets in Moscow, St Petersburg, Central, Siberia and Ural with a total of approximately 1,472,714 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates twelve distribution centres.

The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,759 people as of 31 December 2018.

The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.

For further information please visit www.lentainvestor.com, or contact: