Lenta Announces Management Changes (1343797)
05 Maggio 2022 - 2:00PM
UK Regulatory
Lenta IPJSC (LNTA;LENT) Lenta Announces Management Changes
05-May-2022 / 14:00 CET/CEST Dissemination of a Regulatory
Announcement that contains inside information according to
REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The
issuer is solely responsible for the content of this
announcement.
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Press Release | St. Petersburg | 5 May 2022
Lenta Announces Management Changes
St. Petersburg, Russia, 5 May 2022: Lenta IPJSC (LSE: LNTA,
MOEX: LENT), one of the largest multi-format retail chains in
Russia, announces changes in the senior management team and
organizational structure of the Company. To support the new
strategy of the Company, Lenta's management has taken a decision to
establish the Small Format Department. The Small Format Department
will be responsible for implementing Lenta's strategy of expansion
into small formats, managing small format stores (SFSs),
operational development of SFSs, improving operational efficiency
of SFSs and ensuring that they meet strategic targets.
The Company announces the appointment of Emil Bagirov to the
position of Small Format Department Director with the effect from 5
May 2022. Emil will report directly to Lenta CEO Vladimir
Sorokin.
Mr. Bagirov has more than 15 years of experience in retail.
Prior to joining Lenta, Emil held a number of senior positions in
the Pyaterochka retail chain (part of X5 Group). Emil graduated
from the Tula State Pedagogical University with a degree in Social
Pedagogy and the Law Academy of the Ministry of Justice of the
Russian Federation with a degree in Jurisprudence. Mr. Bagirov also
holds an MBA from the International Institute for Management
Development.
Vladimir Sorokin, Chief Executive Officer of Lenta,
commented:
"On behalf of the Board of Directors and the management of the
Company, I am pleased to welcome Emil to our team. Small format
stores are one of the key elements of Lenta's strategy. We now have
to develop a CVP, improve our pricing model, streamline our
operations, and improve the efficiency of our small stores in order
to deliver a champion offer in our Super Lenta and Mini Lenta
stores. I firmly believe that Emil's experience and knowledge of
Russian retail industry will allow us to achieve our goals.
Despite the changing external environment, we remain committed
to our strategy and continue to provide Russian customers with a
wide assortment of products at an affordable price."
For further information, please visit https://corp.lenta.com/ or
contact:
Lenta Lenta
Mariya Filippova
Tatyana Vlasova Head of Public Relations and Government Affairs
Head of Investor Relations maria.filippova@lenta.com
tatyana.vlasova@lenta.com
EM (International Media Inquiries)
Lenta@em-comms.com 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 541 supermarkets and
convenience stores in over 200 cities and towns across Russia with
more than 1.77 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).
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ISIN: US52634T2006, US52634T1016
Category Code: MSCH
TIDM: LNTA;LENT
LEI Code: 213800OMCE8QATH73N15
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 159613
EQS News ID: 1343797
End of Announcement EQS News Service
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May 05, 2022 08:00 ET (12:00 GMT)
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