Support The Moscow Times!

Izosimov Out at VimpelCom

VimpelCom will replace chief executive Alexander Izosimov with Norwegian chairman Jo Lunder, a move seen as an attempt to smooth over relations between warring shareholders Altimo and Telenor.

The mobile phone operator said Monday that Izosimov would step down as of June 30 — six months before the end of his contract. It did not give a reason for the change, but Izosimov was the public driver of VimpelCom's recent $6 billion acquisition of telecoms assets belonging to Egyptian tycoon Naguib Sawiris.

Telenor opposed the move, questioning its financial sense and arguing that VimpelCom would be better served focusing on its core Russia market.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.