2 Sep 2020 14:15
Lenta appoints Vladimir Sorokin as its new Chief Executive Officer
September 2nd, 2020 (St. Petersburg, Russia) Lenta (LSE and MOEX: LNTA), one of Russia's leading food retailers, announces the appointment of Vladimir Sorokin as its new CEO, replacing Herman Tinga.
The appointment of Mr. Sorokin as the new CEO is effective as of September 3rd, 2020. He will also replace Herman Tinga on the Board of Directors of Lenta. Herman Tinga will continue to work with Lenta as a consultant.
Lenta's Chairman Alexey Mordashov, said:
During 2020, Lenta has delivered excellent operational and financial results and I would like to take a moment to thank the management team led by Herman for all of its efforts. At the same time, it is clear that the food retail sector in Russia is rapidly changing and we believe that in order to create sustainable future successes, Lenta, as one of its leaders, will also need to further transform itself.
Therefore, the Board of Directors has made the decision to strengthen Lenta's management team by appointing Vladimir Sorokin as its new CEO. We strongly believe that Vladimir's extensive professional experience, many successes, and stellar reputation in the Russian food retail sector make him the right person to lead Lenta going forward and to build upon its already very strong foundation.
Lenta's new CEO, Vladimir Sorokin, commented:
Lenta is currently a strong player in the Russian food retail sector, the leader in the hypermarket segment, and I believe best positioned to become one of Russia's retail champions. I am very excited about joining the team and to be part of writing the next chapter in Lenta's success story. I am also grateful for the trust placed in me by the Board of Directors and I'm very much looking forward to leading the implementation of a new strategy for Lenta.
Vladimir Sorokin Biography:
Mr. Sorokin is a graduate of St. Petersburg State University of Trade and Economics (Engineering) and the Higher School of Economics (Finance). He started his career in 1994 at Gillette and has had a number of top leadership positions at both Russian and international retail and FMCG companies. In 2013, Mr. Sorokin joined the X5 Retail Group where he became the General Director of the Perekrestok Supermarkets. In 2019, he joined Magnit as the Deputy Chief Executive - Commercial Director and a member of the Management Board.
About Lenta:
Lenta is the largest hypermarket chain in the Russian Federation and the fourth largest retail chain. The Company was founded in 1993 in St. Petersburg and currently operates 248 hypermarkets and 131 supermarkets in 88 cities across Russia with almost 1.5 million square meters of selling space. Lenta's management team combines a strong combination of local knowledge, international expertise, and extensive operational experience in Russia. Lenta is listed on both the London Stock Exchange and the Moscow Exchange, trading under the ticker: 'LNTA'
For further information please visit www.lentainvestor.com or contact:
Ms. Mariya FilippovaHead of Public Relations & Government Affairs
maria.filippova@lenta.com