The board of directors of Lenta has dismissed the company’s director general Alexey Bobrov.

According to a source in the Russian retailer’s management, the main reason for the dismissal is the company’s poor performance in the recent months.

“Now Lenta needs a strong manager, because for almost two years we have operated by inertia,” one of the co-owners explained.

In 2008, Lenta opened eight hypermarkets instead of the planned 12 and the company’s sales growth of 20% lagged its rivals – the O’Key food chain, for example, posted 70% growth.

Lenta has also been dogged by takeover rumours, with reports suggesting that the likes of Wal-Mart and Carrefour are keen on acquiring the company.