Izosimov to Take Reins of New Vimpelcom

By Combined Reports

Dec. 1, 2009

Former VimpelCom CEO Alexander Izosimov will take the CEO’s role at newly enlarged Vimpelcom Ltd., less than a year after he stepped down from the company’s previous incarnation.

Vimpelcom Ltd. was formed in early October when shareholders including Norway’s Telenor and Alfa Group agreed to merge their holdings in U.S.-listed VimpelCom and Ukraine’s Kyivstar after years of dispute.

Telenor and Alfa’s telecoms arm Altimo released statements Monday announcing Izosimov’s appointment, with Norwegian Jo Lunder, who served as VimpelCom CEO between April 2001 and October 2003, taking the chairman’s role.

Izosimov left his post as CEO of VimpelCom in April, although his contract allowed him to stay until December 2009. He cited “the fulfillment of my family contract” as the reason for his resignation.

Izosimov’s family lives in Switzerland, while Vimpelcom Ltd.’s office will be located in the Netherlands.

The new Vimpelcom Ltd. will be the biggest emerging markets operator in Europe, the Middle East and Africa and will eventually take over VimpelCom’s New York listing.

(Reuters, Vedomosti)

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