Monday, May 16, 2011

VimpleCom's Chairman Takes Over CEO Role

VimpleCom's current CEO, Alexander V. Izosimov, has decided to step down as of June 30, 2011 and will be replaced by the company's current Chairman, Jo O. Lunder, as the new CEO of VimpelCom.

The company's Supervisory Board has unanimously proposed Augie K. Fabela II (Co-Founder and Chairman Emeritus of VimpelCom) to serve as the new Chairman of the Supervisory Board.

Since his appointment as OJSC VimpelCom's CEO in October 2003, Mr. Izosimov has guided the Company's growth, first within Russia and then throughout the CIS, Southeast Asia and, most recently, Western Europe and Africa. Mr. Izosimov also led the Company's drive to become a provider of integrated telecommunications services, significantly diversifying the company's product offerings into fixed-line and broadband services to complement its mobile operations.

Jo Lunder previously served as Chief Executive Officer and Chief Operating Officer of OJSC VimpelCom at various times between 1999 and 2003. Since 2003, he has served as an independent director and as Chairman, first of OJSC VimpelCom, and more recently, VimpelCom Ltd. Prior to his time at VimpelCom, Mr. Lunder was employed in various capacities by Telenor and its affiliates from 1993 to 1999.