LNTA.L Regulatory News (LNTA)

Press Release | St. Petersburg | 9 March 2022

Lenta Announces Management Changes

St. Petersburg, Russia, 9 March 2022: Lenta IPJSC (LSE: LNTA, MOEX: LNTA & LENT), one of the largest multi-format retail chains in Russia, today announces the appointment of Ruslan Ardovsky as Interim Chief Operational Officer (COO). Ruslan Ardovsky takes up his role as COO with effect from 18 March 2022 and will report directly to Vladimir Sorokin, CEO of Lenta. Ruslan replaces Andreas Jueterbock in this position, who has decided to leave Lenta.

Ruslan joined Lenta in 2007 and over the course of the past 15 years, he been promoted from director of a hypermarket to divisional director. Ruslan has been the leader of many successful operating projects, and he also led the Lenta Life project aimed at improving the business's operational efficiency. Ruslan graduated from St. Petersburg State Agrarian University, and also studied at the Stockholm School of Economics in St. Petersburg.

Lenta's Chief Executive Officer, Vladimir Sorokin, commented: 

"First of all, I would like to thank Andreas for his contribution to the development of Lenta. Andreas is an outstanding operational manager who has proven himself to be a talented and strong leader, and I regret to accept this resignation following circumstances beyond our control.

I'm grateful to Ruslan for his willingness to accept this challenge at such difficult times. Ruslan is an experienced manager, and the Volga division of Lenta has delivered consistently excellent results under his leadership. Lenta carries out an extremely important mission of providing our population with food and essential goods. In addition, we want our customers to get the best customer experience, enjoy the time spent in our stores as well as purchases they make in optimal conditions. I firmly believe that Ruslan will be able to support and develop all initiatives in this area and will make a significant contribution to the development of Lenta's business in Russia."

For further information, please contact:

About Lenta

Lenta IPJSC (LSE: LNTA, MOEX: LNTA, LENT) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand "Mini Lenta." It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia's largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of December 31, 2021, operated 254 hypermarkets and 503 supermarkets and convenience stores in 89 cities across Russia with more than 1.75 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 14 distribution centers to supply all of its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion).