7 December 2018
Lenta appoints Herman Tinga as Chief Executive Officer
Saint Petersburg, Russia; 7 December 2018 – Lenta (LSE, MOEX: LNTA), one of the largest retail chains in Russia, announces the appointment of Herman Tinga as CEO, replacing Jan Dunning.
Herman Tinga has been appointed as CEO of Lenta, effective immediately, replacing Jan Dunning who is leaving the Company. Herman has served as Lenta’s Chief Commercial Officer since 2013. He previously served as Non-Food Global Category Management & Sourcing Director at Metro AG. With a background in marketing, category management, buying and merchandising, Herman has extensive experience as a senior manager and board member in retail and cash & carry spanning 32 years.
Lenta’s Chairman, John Oliver said: “The Lenta Board has appointed Herman Tinga as CEO, replacing Jan Dunning. We thank Jan for his many years of service. We have built a very strong team and processes throughout the business and are delighted to be able to promote Herman to the CEO role with immediate effect. Herman has played a central role not just in building Lenta’s world class commercial operations but also in the wider operational progress that the business has made over the last 5 years. Herman will make an exceptional leader for the business and we all look forward to working with him in his new role.”
Lenta’s CEO Herman Tinga commented: “Lenta has built a strong position in what continues to be a challenging time for the Russian grocery retail market. We have a clear plan of actions to further develop the business. I am confident Lenta will continue to prosper and look forward to working with the Lenta team to deliver on our plans.”
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country’s third largest retail chain (in terms of 2017 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 235 hypermarkets in 85 cities across Russia and 128 supermarkets in Moscow, St. Petersburg, Siberia, Urals and the Central region with a total of approximately 1 418 524 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,600 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates seven owned distribution centres.
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 50,600 people as of 30 June 20181.
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 TPG Capital and the European Bank for Reconstruction and Development, both of which are 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.
For further information please visit www.lentainvestor.com, or contact:
Public Relations and Government Affairs Manager
Tel.: +7 812 380-61-31 ext.: 1892
Anton Karpov & Victoria Afonina
Тel:+7 495 795 06 23
1 FTE (full-time equivalent). Average FTE for 1H2018 was 49,643 employees.