* 11 percent shareholder calls all Lenta investors to meeting
* Wants headhunters to search for a new, independent CEO
* Wal-Mart, Carrefour potential buyers of Lenta
MOSCOW, Aug 24 (Reuters) - The European Bank for Reconstruction and Development (EBRD) is hoping to resolve the bitter shareholder dispute at troubled Russian supermarket chain Lenta by leading the hunt for an independent chief executive.
The bank, an 11 percent shareholder in the St Petersburg retailer, told Reuters it was seeking to convene a meeting for all warring factions to agree the process of recruiting a suitable candidate.
"Whatever the rights and wrongs we have to come to some agreement -- even if it is just the process -- otherwise the business will suffer," an EBRD spokesman in Moscow said on Tuesday.
Lenta, which has 37 hypermarkets and around $1.8 billion in turnover, has long been tipped as a bid target for U.S. giant Wal-Mart.
Sources in May said Wal-Mart, the world's biggest retailer, was in preliminary talks to buy the firm, but its descent into boardroom conflict makes a successful deal now look distant.
The conflict revolves around the sacking of former chief executive Jan Dunning by 41 percent shareholder and U.S. businessman August Meyer earlier this month.
Dunning was replaced by Meyer-approved candidate Sergei Yushenko, but his departure has not been recognised by fellow shareholders VTB and private equity group TPG.
The EBRD spokesman said the bank, which paid $125 million for its Lenta stake three years ago and supports the VTB-TPG camp, had gained approval from all shareholders other than Meyer for a clear the air meeting.
He added that the most logical way forward would be to appoint headhunters to pick a candidate.
The various shareholders had also disagreed on strategy, with Dunning favouring organic sales growth and Meyer demanding more store openings.
A spokesman for Meyer-controlled Lenta declined to comment. (Reporting by John Bowker; Editing by Jon Loades-Carter)