Best Voip Service Providers Chart
		$9.95 - $16.58
		$19.99 - $39.99
		$9.95 - $15.95

MTS Announces a Change in Management

Mobile TeleSystems OJSC "MTS" (NYSE: MBT - News), the largest mobile phone operator in Russia and the CIS, announces the departure of its Chief Financial Officer, Nikolai Tsekhomsky.

Mr. Tsekhomsky joined MTS in September 2002 as Finance Director and was subsequently appointed the Company's Vice-President - Chief Financial Officer (CFO) in July 2003. Mr. Tsekhomsky is leaving MTS to join Vneshtorgbank (VTB).

Mr. Ulf Backmeyer, MTS' Finance Director, has been appointed Acting CFO of the Company.

"Nikolai has been with MTS for over three years and has made a significant contribution to the Company's success, including the development of a first-rate financial and reporting system. Nikolai also attracted some of the best talent to the Company's financial function. I wish him all the best in his new endeavor," commented Vassily Sidorov, MTS' President and CEO.

Nikolai Tsekhomsky added, "The last few years have been both demanding and exciting. I have truly enjoyed being part of MTS' management team, but I am looking forward to the new challenges ahead."

Biography

Ulf Backmeyer

Ulf Backmeyer was born in 1970 in Oldenburg, Germany. In 1996 he graduated from Passau University, Germany, with a diploma in Economics.

Mr. Backmeyer started his career with Deutsche Telekom, responsible for market analysis and new business development in the former Soviet Union. He represented Deutsche Telekom in the Regional Commonwealth in the Field of Communications, an intergovernmental union of telecom administrations of the former Soviet Union.

In 2003 Mr. Backmeyer joined MTS as Finance Director to manage MTS' reorganization of its regional financial function throughout Russia and in the neighboring countries in which the Company has an operational presence. He is responsible for the integration of newly acquired companies into the financial structure of MTS and manages the regional financial function within the Company.

Mobile TeleSystems OJSC ("MTS") is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 50.36 million subscribers. The regions of Russia, as well as Belarus, Ukraine, Uzbekistan, and Turkmenistan, in which MTS and its subsidiaries are licensed to provide GSM services, have a total population of approximately 233.1 million. Since June 2000, MTS' Level 3 ADRs have been listed on the New York Stock Exchange with the ticker symbol MBT. Additional information about MTS can be found on MTS' website at www.mtsgsm.com.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," and the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia, volatility of stock price, financial risk management and future growth subject to risks.

Author:  

Email:    

Topic:    

Content:

Related Telecom Articles

• Circa Announces Telecom Equipment Sales
  18 October 2005



• Atos Origin and Tango Telecom selected by Turkcell for the deployment of a new data charging solution
  18 October 2005



• Progress Telecom Launches Wireless Last Mile Service
  15 October 2005



• Zingo, Inc. (OTC BB: ZNGO) to Service Major Hollywood Film Production, U.S. Department of Commerce and State Department Set to Establish Telecom Infra
  12 October 2005



• Telecom applies for clearance to acquire spectrum
  10 October 2005



• Etisalat picked for Tunisie Telecom bid
  9 October 2005



• York Telecom Wins Managed Service Contract From Bristol-Myers Squibb
  7 October 2005



• Sistema Reports Operational Results for Its Fixed Line Telecom Operators
  5 October 2005



• Telecom Home Business of the Year Finalists
  3 October 2005



• Germany Has Europe's Largest Telecom Market, While Austria's Has One of the Smallest Yet Most Advanced and Progressive
  2 October 2005