The CEO of Russian retailer Lenta Jan Dunning will leave the retailer on this weekend as one of the company's shareholders did not approve the extension of his contract.

The retailer said it needs the mutual consent of its two main shareholder groups - Luna and Svoboda - to appoint a new general director or prolong Dunning's contract, which "could take some time".

Until the appointment of a new general director, all key decisions will be made collectively by the heads of Lenta's business units.

The move is the latest salvo in disputes, which have been running since May this year, between shareholder groups Luna and Svoboda over who should lead the retailer.