Vimpelcom Appoints Management Team

CEO, chairman of the board, and independent directors selected for VimpelCom

November 30, 2009

2 Min Read

FORNEBU, Norway, and MOSCOW -- Telenor and Altimo have agreed to appoint Alexander Izosimov as the CEO of VimpelCom Ltd. Jo Lunder will be the Chairman of the Board of Directors. Mr. Lunder, Mr. Leonid Novoselsky and Dr. Hans Peter Kohlhammer will be the independent members of VimpelCom Ltd.'s Board of Directors.

On 5 October 2009, Telenor ASA and Altimo Holdings & Investments Ltd. announced their agreement to combine their common assets in Ukrainian mobile operator Kyivstar and Russian mobile operator OJSC VimpelCom in a newly formed Bermuda company, VimpelCom Ltd., which will be headquartered in the Netherlands. Today, Telenor and Altimo announce that they have selected candidates to fill VimpelCom Ltd.'s leadership positions: Alexander V. Izosimov, presently non-executive President of OJSC VimpelCom, will be appointed as VimpelCom Ltd.'s President and CEO, and Jo Lunder will become an independent director and Chairman of VimpelCom Ltd.'s Board. Leonid Novoselsky and Dr. Hans Peter Kohlhammer will become independent members of VimpelCom Ltd.'s Board of Directors.

Jon Fredrik Baksaas, President and CEO of Telenor, said:"It is with great confidence that we announce two such prominent and experienced people, Alexander Izosimov and Jo Lunder, to head our new united company. They both have unique knowledge of the mobile business and will be beneficial for the future prosperous development of the new company. Both have contributed substantially to making OJSC VimpelCom one of Europe's leading mobile operators. When Telenor first invested in VimpelCom in 1998, the company had a mere 300,000 customers, a number which today exceeds 65 million. From being a small Moscow-based operator, OJSC VimpelCom now has operations in nine countries in addition to Russia. Alexander Izosimov and Jo Lunder have contributed greatly to this success, and together they will create a continued success story from our new base in the Netherlands."

VimpelCom Ltd. (NYSE: VIP)

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