OREANDA-NEWS. April 01, 2008. Stan Abbeloos, former CEO of OAO Farlep-Invest, is leaving the office from 26 March 2008 due to early termination of contract by mutual consent, reported the press-centre of SCM.

Before appointment of CEO is resolved by the General Meeting of the Shareholders of OAO Farlep-Invest Mr. Yuriy Chuikov will be the acting CEO of the company. The Supervisory Board will recommend the General Meeting of the Shareholders to appoint Mr Yuriy Chuikov the CEO of the company, and this appointment will be put on agenda of the next General Meeting of the Shareholders.

It was during his tenure that the consolidation of telecommunication assets of SCM Group within the framework of Farlep Optima Telecom Group, as well as formation of a contemporary corporate governance structure and a professional management team for the company were started. The Supervisory Board highly appreciated his performance at the position of the CEO of OAO Farlep Invest.

In his address to partners and colleagues Mr Abbeloos stated: "I wish to thank all our partners and the people in the company for their support and for a very interesting and challenging experience in Ukraine. I am confident that the company is on the right track, and that it will reinforce its leading position in the Ukrainian market as the first alternative wire line operator. For my part, I will do my best to ensure that the transition to the new management will proceed as smoothly as possible, and I wish them success with this challenging task. On my part, I am ready to help in the near future."

Also, the parties agreed that Stan Abbeloos will continue advising Farlep–Optima Telecom Group on certain issues in April 2008.