OREANDA-NEWS. The Supervisory Board of Ukrtelecom introduced new positions of the company's chairman and director.

Lasha Mikava is appointed the Chairman to carry out strategic management and prepare and oversee the development program of Ukrtelecom.

Igor Kravets is appointed the Director responsible for ensuring efficient day-to-day operations and implementing the approved development strategy. The director is the sole executive authority in the company.

“The global practices divide operational and strategic management of business processes that improves efficiency of the company and prevents a conflict of interests and excessive concentration of powers by a single manager,” said Ukrtelecom Supervisory Board Chairman Leonid Netudykhata. “We believe the ongoing changes in the structure and organization will improve the efficiency of Ukrtelecom's operations, cement its leadership in Ukraine's telecom market and make the company more focused on the interests of our customers. The approach will ensure the utmost effectiveness in delivery of the goals set by the shareholders.”

We remind that an extraordinary General Shareholders Meeting of Ukrtelecom JSC took place on 8 October, 2013, and approved new members of the Supervisory Board.

To harmonise the company's documents with the global and corporate standards of SCM Group, the extraordinary meeting amended Ukrtelecom's Articles of Association and a number of internal regulations. The alterations mostly pursue a balanced distribution of powers between the management bodies. In particular, the functions of strategic management and control gained more authority. In addition, the shareholders changed the executive management by dissolving the collective executive body “Ukrtelecom Board”.

Check current information about the management of the company on the site of Ukrtelecom JSC, Management section.

SCM is the professional investment company, the managing company for a major Ukrainian financial and industrial holding company. It includes businesses in metals and mining, power generation, banking and insurance, telecommunications, media and real estates, retail, clay mining, oil trading, agriculture, mechanical engineering, and transport business.

SCM Group includes the managing company SCM and all businesses in which the company invests its money and over which it holds control. The Group includes over 100 businesses in Ukraine (14 oblast), Russia, European Union (Italy, Great Britain, Bulgaria), Switzerland, and USA. The Group consists of Metinvest, DTEK, FUIB, Renaissance Capital, ASKA and ASKA-Life, Vega Telecommunications Group, Astelit Mobile Communications (mobile telephone network operator life :)), Media Group Ukraine, Segodnya Multimedia publishing holding, ESTA Group, Ukrainskiy Retail (Brusnytsya and Brusnychka grocery retail chain), Mining Machines, Parallel-M Ltd, UMG Limited (clay mining), HarvEast Holding, Portinvest port holding, and others.

Ukrtelecom JSC is one of the major telecommunication companies in Ukraine. The Company is the biggest Interenet service provider. It delivers broadband internet access services to more than 1.6 mln. customers under OGO! trademark. Ukrtelecom owns a powerful and extensive network with a high degree of reliability and redundancy, which is the basis of c