MTS Appoints New Chief Executive Officer
OREANDA-NEWS. March 5, 2011. Mobile TeleSystems OJSC (“MTS” or “the Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, today announced that in accordance with the Company’s Charter1 Mr. Andrei Dubovskov has been appointed by the MTS Board of Directors (“BoD” or “the Board”) as President and Chief Executive Officer (“CEO”) of Mobile TeleSystems OJSC. Mr. Dubovskov replaces Mr. Mikhail Shamolin, who has served as President and CEO of MTS since May 2008. Mr. Shamolin’s candidacy is expected to be nominated to the position of President and CEO of Sistema for approval at tomorrow’s Board of Directors meeting of Sistema, the largest diversified public financial corporation in
Under Mr. Shamolin's leadership, MTS has transformed itself from a mobile-only access provider to a fully integrated telecommunications company. In the past three years, MTS has enhanced its leadership position through the development of its fixed-line business, the expansion of its proprietary retail channels, the launch of
Mr. Dubovskov joined MTS in 2004 as head of the Company’s operations in
Mr. Ron Sommer, Chairman of the Board of Directors of MTS, commented: “We are grateful to Mikhail for the tremendous amount of work he put in and the results that were achieved under his leadership. He was instrumental in making MTS into an integrated player through the implementation of the 3i Strategy. The Board has full confidence that Andrei will continue Mikhail’s undertakings in executing on the strategic priorities of the Company as it looks to extract further growth from the
Mr. Dubovskov commented: “The Board of Directors has afforded me an extraordinary opportunity, and I am grateful for the opportunity to represent MTS before its shareholders, employees and customers. I am committed to MTS' further development as the region's pre-eminent telecommunications provider and further position MTS for future growth.”
Following Mr. Dubovskov’s appointment, Mr. Vasyl Latsanych, the Chief Marketing Director of Business Unit MTS Ukraine, is the acting Head of Business Unit MTS Ukraine.
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