Lenta PLC Lenta appoints Vladimir Sorokin as its new CEO (8549X)
02 September 2020 - 3:15PM
UK Regulatory
TIDMLNTR TIDMLNTA
RNS Number : 8549X
Lenta PLC
02 September 2020
Lenta appoints Vladimir Sorokin as its new Chief Executive
Officer
September 2(nd) , 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 3(rd) , 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 Filippova
Head of Public Relations & Government Affairs
maria.filippova@lenta.com
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