Sergey Soldatenkov commented:
“I have decided that the time has come to hand the reins to Gevork. I have been involved with the Company since its creation, almost 20 years ago. Throughout this time we have been at the forefront of innovation: we were the first to launch new products and services, we surprised clients and competitors, and we were not afraid to change the sector nor, most importantly, to change ourselves.
However, we have been conscious for a long time of the need for a management succession plan. With this in mind, we asked Gevork to take on the role of Executive Director last October, with a view to having me focus on strategy and government relations and having Gevork take on operational issues. In this way it was possible to gradually transition responsibilities to Gevork, and I believe that he is now ready to take over my responsibilities as well and assume full control of the management of the Company.
I want to thank the Board of Directors and shareholders for all of the opportunities they have given me and my team. The success of MegaFon over the years is our collective achievement and I am sure that the Company has a bright future as it implements its new digital strategy.”
Ivan Streshinsky, CEO of USM Management, remarked:
“I want to thank Sergey Vladimirovich for his huge contribution to the Company over the years. He is a unique person — he has spent his entire career in telecoms, and as a result he understands the sector better than anyone else. Our decision in 2016 to ask him to return to the position of CEO clearly paid off handsomely. It had a positive impact on the state of the Company’s business — we can see this clearly in the Company’s improved revenue and performance — and also on the opinion of the Company held by the investment and finance community.”
Evgeny Bystrykh, Chairman of the Board of Directors of MegaFon, added:
“Gevork Vermishyan’s candidacy has our unanimous support. He has interacted effectively with the Board of Directors and we are confident that he can take MegaFon to the next level of its development. Gevork has already been deeply involved in the major transformational processes taking place within the Company, intended to allow us to respond to the challenges of today’s market and become the number one choice for our clients. I am confident that this appointment will be an important part in securing MegaFon’s leadership in the new digital economy that we are all working to achieve.”
The company increased its service revenue, OIBDA and net profit in spite of plummeting roaming and retail revenues.