Lenta Ltd.: Appointment of Director (864377)
August 28 2019 - 3:32AM
UK Regulatory
Lenta Ltd. (LNTA;LNTR)
Lenta Ltd.: Appointment of Director
28-Aug-2019 / 09:32 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Lenta announces appointment of Tomas Korganas as non-executive director of
Lenta Ltd.
St. Petersburg, Russia; 28 August, 2019 - Lenta, (LSE, MOEX: LNTA) one of
the largest retail chains in Russia, announces that Tomas Korganas has been
appointed as non-executive director of the Board of Directors of Lenta Ltd.
with an immediate effect.
Appointing Tomas Korganas as a non-executive director of Lenta Ltd. the
Board used its authority to fill the vacant seat with the nominee of
Severgroup, Lenta's major shareholder.
Tomas Korganas started his career at BCG and Goldman Sachs, after that he
worked in and led Corporate M&A at GE, Rusal and Vympelkom for the next 10
years. In 2012, Tomas joined Severstal as Head of Corporate Development and
soon after he was asked to assume same role at SeverGroup. Since 2018, Tomas
is also heading the Strategy of Severgroup.
Tomas graduated with B.Sc. in Engineering from Kaunas University of
Technology in 1993, M.Sc. in International Strategy from Helsinki University
of Technology in 1996, and MBA from Sloan School of Management, MIT in 2000.
Lenta's Chairman, Alexey Mordashov, commented:
"On behalf of Lenta's Board I would like to welcome Tomas as a new member of
the Board. I believe, his deep experience in Strategy and M&A will be very
beneficial for the Company in the current stage of development".
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 245 hypermarkets in 88 cities across Russia and 129
supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central
regions, with a total of approximately 1,468,639 sq.m. of selling space.
The average Lenta hypermarket store has selling space of approximately
5,500 sq.m. The average Lenta supermarket store has selling space of
approximately 800 sq.m. The Company operates 12 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 50,509 people as of 30 June
2019[1].
? 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'
? A brief video summary on Lenta's business and its Big Data initiative
can be seen here [1].
? For further information please visit www.lentainvestor.com [2], or
contact:
?
? Lenta Russian Media:
? Mariya Filippova
? Head of PR&GR NW Advisors
? Tel: +7 812 380-61-31 ext.:
1892
Victoria Afonina
? E-mail:
maria.filippova@lenta.com
?el:+7 495 795 06 23
E-mail: lenta@nwadvisors.com
Forward looking statements:
This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the fact that they do not only relate to historical or current
events. Forward-looking statements often use words such as "anticipate",
"target", "expect", "estimate", "intend", "expected", "plan", "goal",
"believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances, a number of which
are beyond Lenta's control. As a result, actual future results may differ
materially from the plans, goals and expectations set out in these
forward-looking statements.
Any forward-looking statements made by or on behalf of Lenta speak only as
at the date of this announcement. Save as required by any applicable laws or
regulations, Lenta undertakes no obligation publicly to release the results
of any revisions to any forward-looking statements in this document that may
occur due to any change in its expectations or to reflect events or
circumstances after the date of this document.
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[1] FTE (full-time equivalent). Average FTE for 1H2019 was 51,470 employees
ISIN: US52634T2006, US52634T1016
Category Code: BOA
TIDM: LNTA;LNTR
LEI Code: 213800OMCE8QATH73N15
Sequence No.: 18236
EQS News ID: 864377
End of Announcement EQS News Service
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