firmenpresse print | CEO, Chairman of the Board and Independent Directors selected for
VimpelCom Ltd.
30.11.2009
CEO, Chairman of the Board and Independent Directors selected for
VimpelCom Ltd.
(Fornebu/Norway and Moscow/Russia - 30 November 2009) Telenor and
Altimo have agreed to appoint Alexander Izosimov as the CEO of
VimpelCom Ltd. Jo Lunder will be the Chairman of the Board of
Directors. Mr. Lunder, Mr. Leonid Novoselsky and Dr. Hans Peter
Kohlhammer will be the independent members of VimpelCom Ltd.'s Board
of Directors.
On 5 October 2009, Telenor ASA and Altimo Holdings & Investments Ltd.
announced their agreement to combine their common assets in Ukrainian
mobile operator Kyivstar and Russian mobile operator OJSC VimpelCom
in a newly formed Bermuda company, VimpelCom Ltd., which will be
headquartered in the Netherlands. Today, Telenor and Altimo announce
that they have selected candidates to fill VimpelCom Ltd.'s
leadership positions: Alexander V. Izosimov, presently non-executive
President of OJSC VimpelCom, will be appointed as VimpelCom Ltd.'s
President and CEO, and Jo Lunder will become an independent director
and Chairman of VimpelCom Ltd.'s Board. Leonid Novoselsky and Dr.
Hans Peter Kohlhammer will become independent members of VimpelCom
Ltd.'s Board of Directors.
Jon Fredrik Baksaas, President and CEO of Telenor, said:
"It is with great confidence that we announce two such prominent and
experienced people, Alexander Izosimov and Jo Lunder, to head our new
united company. They both have unique knowledge of the mobile
business and will be beneficial for the future prosperous development
of the new company. Both have contributed substantially to making
OJSC VimpelCom one of Europe's leading mobile operators. When Telenor
first invested in VimpelCom in 1998, the company had a mere 300,000
customers, a number which today exceeds 65 million. From being a
small Moscow-based operator, OJSC VimpelCom now has operations in
nine countries in addition to Russia. Alexander Izosimov and Jo
Lunder have contributed greatly to this success, and together they
will create a continued success story from our new base in the
Netherlands."
Alexei Reznikovich, CEO of Altimo, commented:
"It the present phase, when we are about to embark on this new
exciting venture, it is extremely important that we emphasize the
continuation of present successes. This is one major reason why we
have chosen Jo Lunder and Alexander Izosimov to take on the
development of our new jointly-owned mobile telecoms operator,
VimpelCom Ltd. They have a unique track record of success and it is
with trust that we wish them all the best in their efforts to develop
this new creation of ours into a leading emerging markets mobile
operator."
Chairman of the Board
Jo Lunder is currently the Executive Vice President of FERD, one of
Norway's largest privately-owned financial and industrial groups.
Previously, Mr. Lunder served as the Chief Executive Officer of Atea
ASA, one of Europe's largest IT-infrastructure companies listed on
the Oslo Stock Exchange. Prior to that, he served as Managing
Director of Telenor Privat and Vice Managing Director of Telenor
Mobil. Mr Lunder has been a member of the OJSC VimpelCom Board of
Directors since May 2002. During his tenure at OJSC VimpelCom, Mr.
Lunder served as Chairman of the Board, Chief Executive Officer, and
Chief Operating Officer. In addition, Mr. Lunder currently serves as
Chairman of the Aibel Group of Companies, the second largest Nordic
oil and gas services company, Chairman of Elopak AS, the world's
third largest liquid carton packaging company, and Chairman of Swix
Sport AS, a global supplier of winter clothing and skiing equipment.
Mr. Lunder earned a B.A. degree from Oslo Business School and holds
an MBA from Henley Management College (UK). Mr. Lunder is 48 years
old and is a Norwegian citizen.
President and CEO
Alexander Izosimov served as OJSC VimpelCom's Chief Executive Officer
and General Director from October 2003 until April 2009. Mr. Izosimov
currently is the Chairman of the Board of GSM Association and serves
on the Boards of Directors of Baltika Breweries Plc., MTG AB and
Dynasty Foundation. Mr. Izosimov also is a member of the Council on
Competitiveness and Entrepreneurship in Russia. Prior to joining OJSC
VimpelCom, Mr. Izosimov held senior positions with Mars, Inc. [in
Moscow] and McKinsey & Company in Stockholm and London. Mr. Izosimov
has a M.S. degree from the Moscow Aviation Institute and an MBA from
INSEAD. Mr. Izosimov is 46 years old, and is a Russian citizen.
Independent Directors
VimpelCom Ltd.'s Board will consist of nine directors, three of whom
will be appointed by each of Telenor and Alfa and three of whom will
be independent. In addition to Mr. Lunder, the VimpelCom Ltd.'s
independent directors will consist of the following people:
Leonid Novoselsky
Leonid Novoselsky has been a director of OJSC VimpelCom since June
2006. He is a co-founder and the General Director of the Gradient
Group. Mr. Novoselsky also has served as General Director of LLC
"Arbat Prestige Gradient" since 2005 and a founding member of LLC
"Trade House "Symposium" since 2007. From September 2008, Mr.
Novoselsky has served as a director of OJSC "Protec", one of the
largest pharmaceutical distributors in Russia. Mr. Novoselsky
graduated from the Moscow Institute of Steel and Alloys and has an
MBA from the University of Pennsylvania Wharton Business School. Mr.
Novoselsky is 39 years old, and is a Russian citizen.
Dr. Hans Peter Kohlhammer
Hans Peter Kohlhammer has been a director of OJSC VimpelCom since
June 2008. Dr. Kohlhammer has been the Chief Executive Officer of
Kohlhammer Consulting since August 2006 and served as the Chief
Executive Officer of Broadnet AG in Hamburg from December 2006 to
October 2007. From 2003 to 2006, Dr. Kohlhammer was the Chief
Executive Officer and Director General of the telecom company SITA SC
in Geneva. From 2001 until 2003, Dr. Kohlhammer was the President
and Chief Executive Officer of Grundig AG. Dr. Kohlhammer has a Ph.D.
degree in Mathematics from Bonn University. Dr. Kohlhammer is 62
years old, and is a German citizen.
Notes to Editors
Photos
High resolution photos of Mr. Lunder, Mr. Kohlhammer and Mr.
Novoselsky may be downloaded from:
http://www.vimpelcom.com/people/directors.wbp.
A photo of Mr. Izosimov can be downloaded from:
http://www.telenor.com/downloads/20091129/alexander-izosimov.jpg
Background
VimpelCom Ltd. will be a leading mobile operator in Russia, Ukraine
and the CIS, with a significant presence in Southeast Asia. VimpelCom
Ltd. will seek to expand its operations in other rapidly developing
markets in Europe, Asia and Africa, becoming one of the world's
leading players in the industry. VimpelCom Ltd. is incorporated in
Bermuda and will be headquartered in the Netherlands and listed on
the NYSE.
Subject to receiving the required regulatory and other approvals,
VimpelCom Ltd. intends to make an offer whereby OJSC VimpelCom shares
and ADRs will be exchanged for Depositary Receipts ("DRs")
representing shares in VimpelCom Ltd. (the "Exchange Offer").
Immediately following the successful completion of the Exchange
Offer, Telenor and Altimo will contribute their respective
shareholdings in Kyivstar in exchange for shares in VimpelCom Ltd.
The parties expect to complete the proposed Exchange Offer and the
other related transactions by mid-2010, following which VimpelCom
Ltd. intends to delist OSJC VimpelCom's securities from the New York
Stock Exchange and the Russian Trading System.
The Telenor Group is an international provider of high quality
telephony, data and media communication services with mobile
operations in 13 markets across the Nordic region, Central and
Eastern Europe and in Asia. Headquartered in Norway, the Telenor
Group is among the largest mobile operators in the world with over
160 million mobile subscriptions, revenues in 2008 of NOK 110
billion, and a workforce of more than 40,000.
Altimo specializes in telecoms investments in Russia, the CIS and
Asia. Its stakes include: 44% of the voting interest in VimpelCom,
one of Russia's two biggest mobile phone companies (NYSE: VIP); 25.1%
of MegaFon, the third largest GSM provider in Russia; 43.5% of
Kyivstar, Ukraine's largest mobile phone company; and 4.99% of
Turkcell, Turkey's largest mobile company (NYSE: TKC). Together,
Altimo's investee companies serve more than 160 million mobile phone
subscribers.
Cautionary statement regarding forward-looking statements
This announcement contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts, including statements concerning the anticipated timing of
filings and approvals relating to the proposed transactions; the
expected timing of the completion of the proposed transactions; the
expected benefits and costs of the proposed transactions; management
plans relating to the proposed transactions; the ability to complete
the proposed transactions in view of the various closing conditions;
the possibility that the proposed transactions may not be completed,
any projections of earnings, revenues, synergies, accretion, margins
or other financial items; any statements of operations, including the
execution of integration plans; any statements of expectation or
belief; and any statements of assumptions underlying any of the
foregoing. Any statement in this announcement that expresses or
implies Telenor or Altimo's intentions, beliefs, expectations or
predictions (and the assumptions underlying them) is a
forward-looking statement. Forward-looking statements involve
inherent risks, uncertainties and assumptions, including, without
limitation, risks related to the timing or ultimate completion of the
proposed transactions; the possibility that expected benefits may not
materialize as expected; that, prior to the completion of the
proposed transactions, OJSC VimpelCom's business or Kyivstar's
business may not perform as expected due to uncertainty; that the
parties are unable to successfully implement integration strategies
or otherwise realize the synergies anticipated for the proposed
transactions; and other risks and uncertainties that are beyond the
parties' control. If such risks or uncertainties materialize or such
assumptions prove incorrect, actual results could differ materially
from those expressed or implied by such forward-looking statements
and assumptions. The forward-looking statements contained in this
announcement are made as of the date hereof, and Telenor and Altimo
each expressly disclaim any obligation to update or correct any
forward-looking statements made herein due to the occurrence of
events after the issuance of this announcement.
Important Additional Information
This announcement is for informational purposes only and is not an
offer to sell or the solicitation of an offer to purchase or exchange
any securities, nor shall there be any sale of securities, in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The publication or distribution of
this announcement and any separate documentation regarding the
intended offer, the making of the intended offer or the issuance and
offer to purchase OJSC VimpelCom shares may be subject to specific
regulations or restrictions in certain jurisdictions. As a result,
persons in possession of this announcement must seek information as
to any applicable local restrictions and comply therewith. Neither
Telenor, Altimo nor any of their respective affiliates undertake any
liability of any kind for any violation of applicable law. The
solicitation and the offer to purchase shares of OJSC VimpelCom's
common stock or preferred stock or ADRs representing shares of OJSC
VimpelCom's common stock will only be made pursuant to an offer to
purchase and related materials that are intended to be filed with the
SEC and a voluntary tender offer statement prepared in compliance
with applicable Russian law.
Telenor and Altimo intend for VimpelCom Ltd. to file a registration
statement and tender offer statement, together with other related
materials, with the SEC in connection with the proposed
transactions. Information regarding the participants in the proposed
offer and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained in the relevant
materials to be filed with the SEC when they become available.
TELENOR AND ALTIMO URGE OJSC VIMPELCOM SHAREHOLDERS TO READ THESE
MATERIALS REGARDING THE POTENTIAL OFFER CAREFULLY PRIOR TO MAKING ANY
DECISIONS WITH RESPECT TO THE OFFER, IF AND WHEN THESE MATERIALS
BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION,
INCLUDING THE TERMS AND CONDITIONS OF THE PROPOSED OFFER.
OJSC VimpelCom shareholders will be able to obtain a free copy of
such materials without charge at the SEC's website
(http://www.sec.gov) or from the information agent named in such
materials once they have been filed with the SEC.
For further information, please contact:
Telenor: Dag Melgaard,
Communication Manager,
(+47) 901 92 000,
dag.melgaard@telenor.com
Altimo: Kirill Babaev,
Senior Vice President
+7 4959814452,
babaev@altimo.ru
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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