Rus News Journal

Passing Vympelcom

Having finished the transaction on association with the Ukrainian operator Kievstar in new Vimpelcom Ltd, Vympelcom is going to replace management. The decision on resignation of the general director of the company Alexander Torbahova who has headed the operator of all one year ago, can be accepted already on June, 10th on board of directors Vympelcom the financial director of the operator Elena Shmatova can occupy its place. The General manager the director Vympelcom Boris Nemshich, most likely, will pass to work in Amsterdam office Vimpelcom Ltd.
on June, 10th board of directors Vimpelcom Ltd which will pass in Amsterdam, can consider the problem on the preschedule termination of the contract of the general director Vympelcom Alexander Torbahova, have told three sources, close to shareholders of the company. Duties of the general director Elena Shmatova who now holds a post of the executive vice-president, the main financial director " can become temporarily fulfilling; Vympelcom .

One more source close to shareholders Vympelcom says that on council the structure a staff - apartments as its mutual relations with " will be under construction will be discussed; daughters what redistribution of powers between managers is required. Concerning last point there are various variants, the interlocutor " speaks; without specifying, what scenarios are considered.

about the future change of a management Vympelcom sources close to the operator, told several months ago (shareholders of the company, including head the Alpha - groups Michael Friedman, it denied). As they said, besides mister Torbahova in the near future the company the chief executive " also can leave; Vympelcom Boris Nemshich. It will pass to work in a staff - apartment Vimpelcom Ltd in Amsterdam. What post will be occupied with mister Nemshich and when appointment, sources " will take place; do not specify.

general director Vimpelcom Ltd Alexander Izosimov, Alexander Torbahov and Elena Shmatova yesterday have refused comments.

Vympelcom renders telecommunication services on Russia, Kazakhstan, Uzbekistan, Armenia, Tajikistan, Georgia and in Ukraine. Owns not control shares in the cellular companies in Cambodia and Vietnam. Cumulative user`s base on the end of March - 69,3 million subscribers. A gain following the results of the first quarter - $2,23 mlrd, OIBDA - $1,05 billion

Until recently the basic shareholders Vympelcom Were Altimo which operates telecommunication actives the Alpha - groups (owned 44 % of voting actions), and Norwegian Telenor (29,9 %). In the autumn of last year they have agreed to unite the company with the largest Ukrainian cellular operator Kievstar (Altimo owned 43,5 %, Telenor - 56,5 %) in holding Vimpelcom Ltd. The transaction has been closed on April, 21st, in the new company at Altimo 43,89 % of voting actions, at Telenor - 35,42 %, 20,69 more % bargain on NYSE under former tikkerom Vympelcom the VIP. Vympelcom and Kievstar after end of legal procedures become 100 - percentage daughters Vimpelcom. The new company is registered on Bermuda about a staff - apartment in Amsterdam. Since December of last year it is headed by Alexander Izosimov.

the Former general director of the company Rosgosstrakh - Life Alexander Torbahov and the former head of the largest operator fixed and mobile communication of Austria Telecom Austria Boris Nemshich work in Vympelcom from the beginning of April, 2009 when the company was left by Alexander Izosimov heading Vympelcom more than five years. They also have divided its powers: mister Torbahov should be responsible for work of the corporate centre and management of the company, mainly its finance, and Boris Nemshich - for an operational administration structures Vympelcom in all regions of Russia regarding the organisation of work of networks, marketing and purchases. With both have concluded the contract for three years.

two sources close to co-owners of the operator, say that shareholders not completely accepted development Vympelcom without specifying thus an essence of claims. The analytics of Gazprombank Anna Kurbatov does not surprise possibility of personnel shifts in Vympelcom . At Vympelcom the scale has changed, now it is the operational level, all strategic decisions will be accepted now in VimpelCom Ltd. The tandem of Torbahova and Nemshicha has been intended for the decision of other problems in other company - the analyst argues. At the same time the operator loses a market share on subscribers (following the results of April the Megaphone for the first time has displaced from the second place Vympelcom by quantity of subscribers - 52,038 million subscribers against 50,83 million). Till now to Vympelcom it was possible to keep a share under incomes, but since recent time it has started to lose and it - Kurbatov`s madam marks.