Ukraine’s Ukrtelecom has replaced its supervisory and management boards since Systems Capital Management (SCM) acquired a majority stake in the company earlier this month.
Ukrtelecom announced today that the decision to change the supervisory board…
Ukraine’s Ukrtelecom has replaced its supervisory and management boards since Systems Capital Management (SCM) acquired a majority stake in the company earlier this month.
Ukrtelecom announced today that the decision to change the supervisory board was made at an EGM on 8 October. Leonid Netudykhata, a former head of Ukraine’s State Special Communications and Information Security Service, has been named as the new supervisory board chairman.
Netudykhata, who previously held senior positions with Ukrtelecom and mobile operator DCC when it was part of SCM, replaces Peter Goldscheider. Goldscheider is a managing partner with Austrian PE firm Epic, from which SCM bought its indirect 92.8% stake in Ukrtelecom.
Other new supervisory board members are Ilya Arkhipov, managing director of SCM Advisers; Catherine Lapshina, SCM director of media business; Lyudmila Pavlenko, chief counsel with law firm Nikolaev & Partners; and Stuart Paul Reych, chairman of the supervisory board of local mobile operator Astelit, in which SCM holds a 45% stake.
The new supervisory board quickly dismissed all Ukrtelecom management board members, Interfax reported. The agency cited Igor Kravets, formerly acting chairman of the telco’s supervisory board, as saying the new board should appoint a CEO soon, adding that there are also plans to draw up a new development strategy.
Meanwhile, Lasha Mikawa, a former CEO of SCM-owned local fixed-line operator Vega, has been named chairman of the Ukrtelecom management board. Kravets has been appointed as director of the management board.
Ukrtelecom and SCM were not immediately available for further comment.
SCM completed its acquisition of most of Ukrtelecom for an estimated US$1.3bn on 4 October. The deal saw the company buy 100% of holding company UA Telecominvest, which in turn owns 92.79% of Ukrtelecom, from Epic.
