LNTA.L Regulatory News (LNTA)

Press Release | St. Petersburg | 21 January 2021

Lenta Announces Management Changes

St. Petersburg, Russia, 21 January 2021: Lenta PLC (MOEX & LSE: LNTA), one of the largest retail chains in Russia, today announces changes to its senior management team and the organizational structure of the company, effective January 25th.

To support the new strategy of the company, Lenta management has taken the decision to introduce organizational changes. Two new structural units have been established: the Commercial and Marketing Department and the Strategy and Transformation Department.

The responsibilities of the Commercial and Marketing Department will include category management, procurement and sourcing, private label portfolio development, and the continuous improvement of the customer experience across all of Lenta's formats, as well as, relevant marketing support.

Dmitry Bogod will serve in the newly created role of Chief Commercial Officer. Dmitry joined Lenta in 2018 as Chief Strategy Officer. In 2019, he was appointed Chief Strategy and Marketing Officer. Before Lenta, Dmitry worked as an Associate Partner in McKinsey's Moscow office. Prior to McKinsey, he held multiple senior positions in various industries. He has an Honors Bachelor of Science degree in Applied Mathematics from the University of Toronto.

The Strategy and Transformation Department will be in charge of developing the company's positioning, strategic project management, and sourcing and development of innovations.

Anastasia Volokhova will join Lenta as the company's new Strategy and Transformation Officer. Prior to joining Lenta, Anastasia held senior roles at Magnit and the Boston Consulting Group (BCG) in the areas of transformation and business efficiency. Anastasia holds a Master of International Business degree from Plekhanov Russian University of Economics.

Tatiana Safutina and Jaap van Vreden will step down from their roles as Commercial Department Director and as Sourcing and Procurement Director, respectively.

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

"These changes to the commercial and marketing functions of Lenta's senior management team will promote faster decision making and better coordination between our commercial and consumer activities. The changes will enable us to further excel at creating the most relevant Customer Value Proposition and to become a truly customer-focused retailer. Additionally, we are strengthening our Strategy and Transformation leadership at an exciting time as Lenta begins to embark on implementing its new strategy.

I want to thank Tatiana and Jaap for the contributions they have made to Lenta's development and success over the past years and I wish them much success in their next ventures.

As our new team comes together, we remain focused on making the right operational and strategic decisions for the long-term benefit of all Lenta's stakeholders."

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About Lenta

Lenta is the largest hypermarket chain in the Russian Federation and the fourth largest food retailer. The Company was founded in 1993 in St. Petersburg and as of December 31, 2020 operated 254 hypermarkets and 139 supermarkets in 88 cities across Russia with more than 1.5 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, while the Lenta supermarket averages 800 square meters. The company operates 13 distribution centers throughout Russia. Lenta is listed on both the London Stock Exchange and Moscow Exchange, trading under the ticker: 'LNTA'.