26th Mar 2009 17:27
APPOINTMENT OF NEW CHAIRPERSON
AND NON-EXECUTIVE DIRECTORS
Following the Board changes announced on 18 February 2009, Rambler Media Ltd. ("Rambler" or the "Company"), which operates one of Russia's most popular internet brands, announces the appointment of the following three Non-Executive Directors, with immediate effect:
Ms. Julia Solovieva, aged 36, has been appointed as Non-Executive Director and Chairperson of the Board and comes from ProfMedia, the largest private diversified media holding in Russia and Rambler's majority shareholder, where she has spent the last two years initially as General Director and since July 2008 as Executive Vice-President. Prior to joining Prof Media, Julia Solovieva was General Manager and Executive Director of Telecom Express, a start up company, from July 2006 to February 2007. Between 2003 and 2006, Julia Solovieva acted as Director of Corporate Development at Mobile TeleSystems OJSC, the largest mobile phone operator in Russia and the CIS. Between 2001 and 2003, Julia was an associate of Booz Allen Hamilton, a Dutch strategy consulting company. Previously, she held the position of Director of Operations and Regional Development of Mary Kay, a retail group in Russia, and Operations and Organizational Development Manager of Global Telesystems, operator of mobile telecommunications brand Golden Telecom. Julia Solovieva holds an MBA from Harvard Business School (Boston, USA) and is an honoured graduate of the Moscow State Linguistic University, Faculty of Foreign Languages.
Mr. Arthur Markaryan, aged 40, has been appointed as an independent Non-Executive Director. Mr. Markaryan has been President of the Russian National Development Association, a non-commercial organisation which provides support and advisory services to Russian real estate developers, since November 2008. He started his career in the field of banking and specialized in project financing in Stolichny Bank Sberezheniy, Menatep and ABN AMRO. In 2000, Mr. Markaryan left the position of Vice President of ABN AMRO and moved to the manufacturing sector as CFO of Nosta (Orsko-Khalilovsky iron-and-steel works) where he remained until September 2001. He expanded his experience in the world of finance by taking up the position of CFO with the largest Russian chemical companies - Uralkaly (from October 2001 to December 2003) and Eurochem (from December 2003 to March 2006). From April 2006 to December 2008, Arthur Markaryan was CEO of Glavstroy, an integrated holding group managing the construction assets of Basic Element. Arthur Markaryan holds a Master's degree in Economics from the Moscow People's Friendship University.
Mr. Denis Frolov, aged 35, has been appointed as an independent Non-Executive Director. He has been Finance Director Emerging Markets (Eastern Europe, Russia & CIS) at Johnson Controls, a NYSE-listed company offering automotive, building efficiency and power solutions, since May 2004. During that time, Mr. Frolov was also a member of the Board of Directors of Johnson Controls in Russia. He was responsible for the regional financial reporting of the company in compliance with corporate policies, Sarbanes-Oxley and legal requirements and was also involved in shareholder relations. Mr. Frolov started his career at Arthur Andersen, in the audit and business advisory and corporate recovery departments, between 1997 and 2001. After that, he worked at Menatep in the corporate development and financial departments until 2003. In parallel, he was a Director on the Board of Insurance company Progress-Garant in Moscow where he contributed to the implementation of US GAAP audit, budgeting and reporting as Chairman of the Board on Audit and Corporate Reporting Committee. From October 2003 to May 2004, Denis Frolov worked at the Russia Growth Fund, a private investment fund, also involved in the financial audit and reporting processes. Mr. Frolov holds a Ph.D. in Management and Economics and a diploma in international economic relations both from Saint Petersburg's University of Economics and Finance.
On behalf of the Board, Sergey Tikhonov, a Non-Executive Director, commented: "We are delighted to welcome Julia Solovieva, Arthur Markaryan and Denis Frolov to the Board of Rambler Media. We strongly believe that they have the experience and entrepreneurial spirit required to help Rambler through a rapidly changing environment and to support further growth and profitability for the company. Their background is deeply rooted in Russia and we see this as an advantage, which will enhance shareholder value in the current environment."
Ms. Julia Solovieva has, or has during the last five years been, director or partner of the following companies or partnerships:
Julia Solovieva
| CURRENT | PAST | |
| ProfMedia - Management LLC AFISHA Industries CJSC PM Business Solutions LLC Television and radio broadcasting company 2X2 CJSC Telestar Television Stations LLC Energy TV co Ltd | Business Media Communication LLC Broadcasting Corporation Prof-Media CJSC |
Mr. Arthur Markaryan has, or has during the last five years been, director or partner of the following companies or partnerships:
Arthur Markaryan
| CURRENT | PAST | |
| OJSC Glavstroy OJSC Glavmosstroy OJSC Mospromstroymaterialy Glavstroy-SPb Ltd OJSC Planning Institute N°2 | CJSC Glavstroy-management Glavstroj Corporation LLC OJSC Mosmontazhspetsstroy |
Mr. Denis Frolov has, or has during the last five years been, director or partner of the following companies or partnerships:
Denis Frolov
| CURRENT | PAST | |
| Johnson Controls CJSC | Insurance Company "Progress Garant" |
Sergey Tikhonov (Non-executive Director), Vladimir Pravdivy (Non-executive Director), and Nikita Serguienko (Executive Director and Chief Financial Officer) all continue to serve on Rambler's Board of Directors, which now consists of six members.
Save as set out in this Announcement, there are no further disclosures to be made in accordance with paragraph (g) of Schedule Two to the AIM Rules.
***
For further information, please visit www.ramblermedia.com or contact:
| Rambler Media | Shared Value Limited | |
| Konstantin Vorontsov | Nicolas Duperrier | |
| Marina Anisimova | Tel. +44 (0) 20 7321 5010 | |
| Tel. +7 495 745 3619 | ||
| ING Wholesale Banking | ||
| Daniel Friedman | ||
| Tel. +44 (0) 20 7767 1000 | ||
ABOUT RAMBLER MEDIA
Rambler Media is an internet media and services group which operates or has interests in leading Russian language internet brands including the Russian internet homepage and search engine 'Rambler.ru', on-line newspaper 'Lenta.ru', product comparison website 'Price.ru', internet catalogue and navigation system 'Top 100', instant messaging service 'Rambler-ICQ', digital advertising agency 'Index20' and contextual advertising company 'Begun'. Rambler Media's shares are traded on AIM, the junior market of the London Stock Exchange under the symbol 'RMG'.
For more information on Rambler Media, visit our corporate website at www.ramblermedia.com.
Copyright Business Wire 2009
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