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.

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more