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Lenta IPJSC (LNTA;LENT)
Press Release | St. Petersburg | 25 April 2022
Lenta Announces Management Changes
St. Petersburg, Russia, 25 April 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT), one of the largest multi-format retail chains in Russia, announces the appointment of Andrey Spivak as a Chief Financial Officer (CFO) with effect from 25 April 2022 and will report directly to Vladimir Sorokin, CEO of Lenta. Andrey will be responsible for all the sets of issues related to the Company's financial operations, investments, strategy, capital allocation and M&A.
For more than 20 years, Andrey has been working in the retail business and the FMCG segment. Prior to joining Lenta, Andrey served as Chief Financial Officer of Detsky Mir. Mr. Spivak also held a number of executive positions in Magnit and X5 Group. Prior to that, he was CFO of Wrigley Ukraine and held various positions in the finance function at Wrigley Russia and Wrigley GMBH (Munich). Andrey graduated from St. Petersburg State University of Engineering and Economics.
Vladimir Sorokin, Chief Executive Officer of Lenta, commented:
"On behalf of the Board and management of Lenta, I am delighted to welcome Andrey to the team. He joins at an important stage in the development of Lenta and we are confident that he will make a significant contribution to the future success of our business. I firmly believe that Andrey is a great addition to our executive team.
Andrey's experience and knowledge of retail business will ensure the stable operation of our finance department, as we remain committed to our long-term goals and continue to execute our strategy despite the challenges we currently face."
For further information, please visit https://corp.lenta.com/ or contact:
Lenta IPJSC (LSE: LNTA, MOEX: 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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