OREANDA-NEWS. October 22, 2010. VOLIA, Ukraine’s leading national telecommunications provider, has announced changes to the organizational structure to meet the present challenges of the company. According to the decision of the General Shareholders meeting, a Management Board was put in place. Its members are jointly accountable for the management of the company.

Also, operational and strategic management functions were separated. The responsibilities and authorities of President and CEO were redistributed according to key functions to achieve maximal management efficiency. At that, the position of COO was canceled.

Eric Franke, First Vice President of VOLIA, was appointed CEO. Earlier Mr. Franke held positions of First Vice President and COO.

The three members of the Management Board are:

Mr. Sergey Boyko — President and Chairman of the Management Board

Mr. Eric Franke — First Vice President and Chief Executive Officer

Mr. Mark Burden — Chief Financial Officer

Sergey Boyko, emphasized the following: "VOLIA is currently in an very important phase of its development, and this is a very exciting and critical time from the viewpoint of fast, weighted, and precise decisions. In order to do that, we need the optimal combination of knowledge, experience, and a strong background in telecommunications. We moved to a completely new, higher level of decision making, which accounts for the onrush of technology, constantly changing environment, challenges that the company is facing today, and future plans. I am absolutely sure that this synergy of knowledge and experience will help to effectively realize and multiply VOLIA’s potential".