OREANDA-NEWS. On 05 May 2009 was announced, that in the period of difficult economic situation, the founder of company "Lenta", Oleg Zherebtsov, goes back to its operational management. Also a new Board of Directors has been formed, which consists of 5 people: Oleg Zherebtsov, August Meyer, Loren Bough, Sevki Acuner, Paul Swigart. The Board will deal with operational and commercial matters. The Chairman of the Board of Directors shall be Oleg Zherebtsov.

Company background:

Company "LENTA", owner of a network of trade stores under the same name, was founded in 1993. The head office of the company is located in Saint-Petersburg. At present time 36 "LENTA" hypermarkets are operating in 17 cities of Russia: 14 - in Saint-Petersburg, 4 - in Novosibirsk, two in N. Novgorod, as well as Krasnodar and Omsk, Tyumen, Astrakhan, Volgograd, Barnaul, Omsk, Tolyatti, V.Novgorod, Petrozavodsk, Naberezhnie Chelny, Ryazan, Saratov, Penza and Novorossiysk have one trading stores each. In 2008 retail sales volume of the company increased by 54% as compared to 2007, and amounted to USD 2,34 bln. or 58,29 bln. RUR (with VAT).