– RUSSIA, St. Petersburg – Lenta Ltd. (LON: LNTR), one of the largest retail chains in Russia, today announced that Alexey Mordashov, Roman Vasilkov, Maxim Bakhtin and Alexey Kulichenko have been appointed today as directors of the Board of the Company with immediate effect.
Since LLC “Severgroup” has recently acquired in aggregate more than 50% of the Lenta voting shares, the Board has used its authority to fill the four vacated seats on the Board to place Messrs. Alexey Mordashov, Roman Vasilkov, Maxim Bakhtin and Alexey Kulichenko as nominees of Severgroup on the Board.
About Lenta
Lenta is the largest hypermarket chain in Russia and the country’s third largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 244 hypermarkets in 88 cities across Russia and 132 supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central regions, with a total of approximately 1,465,426 sq.m. of selling space. The average Lenta hypermarket store has a selling space of approximately 5,500 sq.m. The average Lenta supermarket store has a selling space of approximately 800 sq.m. The Company operates 12 owned distribution centers.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 45,759 people as of 31 December 2018.
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include Severgroup, which is committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
For more information: http://www.lentainvestor.com
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