Tele2 Russia has named Mikhail Noskov, a director of shareholder Bank Rossisya and steelmaking giant Severstal, as the president and CEO of its new mobile joint venture with Rostelecom.
Noskov will focus on the strategic management of the new federal…
Tele2 Russia has named Mikhail Noskov, a director of shareholder Bank Rossisya and steelmaking giant Severstal, as the president and CEO of its new mobile joint venture with Rostelecom.
Noskov will focus on the strategic management of the new federal operator, which combines Tele 2 Russia and Rostelecom’s mobile assets, Tele2 Russia said in a statement.
The two operators – Russia’s fourth and fifth largest mobile players – announced early last month that they had signed an agreement to combine their mobile assets under the JV, in which Tele2 Russia will have the controlling stake. The combined entity will operate under the Tele2 Russia brand name.
Noskov’s key goals in his new role include boosting Tele2 Russia’s market share, revenues and overall company value.
He will become a member of the Tele2 Russia board and also keep his directorships with Bank Rossiya and Severstal. His appointment as CEO of the JV has been approved by all shareholders.
Bank Rossiya and entities controlled by Alexey Mordashov, Severstal’s major shareholder, were among the investor group which acquired a 50% stake in Tele2 Russia from the VTB banking group last October. VTB retains the remaining 50%.
Former Tele2 Russia president and CEO Alexander Provotorov, who took on the role last June, will serve as the JV’s first deputy CEO. Provotorov, also a former CEO of Rostelecom, will “continue supervising important projects on the company’s development,” according to the statement.
Noskov first started at Severstal in 1997 as head of corporate finance and, the following year, was made finance and economics director. In June 2002, he became group VP for finance and economics and, in 2008, was appointed CEO for finance and economics.
The combined company will have 38 million customers in 64 Russian regions once the integration is complete, a Tele2 Russia spokesperson said.
The first phase of the transaction is expected to close this spring and the second before the end of the year.
