1 June 2021
Lenta Announces Management Change
St. Petersburg, Russia, 17 February 2021: Lenta IPJSC (MOEX & LSE: LNTA), one of the largest retail chains in Russia, today announces the appointment of Andreas Jueterbock as Chief Operational Officer (COO). He replaces Edward Doeffinger in this position.
Andreas Jueterbock takes up his role as COO with effect from 1 June 2021.
Andreas joined Lenta in 2013 as Divisional Director. Previously he worked for 11 years at Metro Cash & Carry in Germany and Ukraine. Andreas is an Executive MBA candidate at IE Business School.
Edward Doeffinger has decided to leave Lenta after 10 years of service at the company.
Investors and prospective investors may seek to consult with their legal, financial, tax and strategic advisers regarding the re-domiciliation.
Lenta’s Chief Executive Officer, Vladimir Sorokin, commented:
“It is no exaggeration to say that Edward Doeffinger is a legend in the Russian retail sector, and his contribution to Lenta’s development during a period of rapid growth is hard to overstate. I am proud to have had the opportunity to work alongside Edward in the same team. The appointment of Andreas Jueterbock as COO has been made as part of the company’s succession planning program. Andreas is an experienced manager, and the North-West division of Lenta has delivered consistently excellent results under his leadership. I am certain that his broad experience in operational management and his knowledge of the company will make a significant contribution to the development of Lenta’s omnichannel offering across the country.”
For further information, please visit www.lentainvestor.com or contact:
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EM (international media inquiries)
Lenta IPJSC (LSE and MOEX: LNTA) 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.” 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 March 31, 2021 operated 254 hypermarkets and 140 supermarkets in 89 cities across European 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, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 13 distribution centers to supply all of its stores. 2020 Revenues were RUB 445 billion (approximately USD 6 billion).