Russian Towers
Russian Towers: Russian Towers expands management team with appointment of Alexander Chub as President
Russian Towers / Key word(s): Corporate Action 10 June 2015, Moscow – Russian Towers Group of Companies (“Russian Towers” or the “Group”), the leading independent operator of shared telecommunications infrastructure in the Russian market, is pleased to announce the appointment of Alexander Chub as the Group’s President. This is a new position created to support Russian Towers’ continued growth as it consolidates further its leading position in the rapidly developing independent telecom infrastructure market in Russia. Mr Chub will concentrate on strategic management of the Group while the rest of the management team at Russian Towers remains unchanged. Peter Owen Edmunds, Chairman of Russian Towers, said: “I am very pleased that Alexander has joined us and I am confident he will be a powerful addition to Dmitri Nelubov and the rest of the senior management team. Bringing in someone of Alexander’s caliber is a reflection of our strong belief in our business and ambition to build significantly on our already leading market position. “Having successfully secured a RUB 2 billion credit facility last year from the Eurasian Development Bank on top of more than a $160m equity investment from our shareholders, we remain well funded and see considerable opportunities to build our business further. This is particularly the case in the current economic environment, as we provide an important solution to mobile operators increasingly looking to optimize their use of capital. We are seeing a renewed level of confidence from our key customers which in 2015 will allow for over 60% growth year on year reaching an annual revenue of close to one billion rubles.” Incoming President Alexander Chub added: “I am delighted to be joining Russian Towers as the market leader in a very attractive and fast growing sector, and at what I believe is an exciting stage in the Group’s development. It is clear that the potential for us to continue to grow is substantial. I am looking forward to working with the existing team and building on the successful platform they have created in order to capture those growth opportunities.” Note to editors: “Russian Towers” is the independent owner, builder and operator of antenna-mast structures on the territory of Russia. The company provides shared usage of telecommunications infrastructure; invests in its own construction of towers of various structures in Moscow and the regions of Russia; and also acquires towers. It has recently been leading innovation in providing platforms for 4G expansion through the upgrading of street lights in cities in the Russian Federation. The company was founded in 2009 with the financial support of UFG Private Equity, the European Bank for Reconstruction and Development (EBRD), Macquarie Russia and CIS Infrastructure Fund, ADM Capital, Sumitomo Corporation and the International Finance Corporation (IFC). Alexander Chub had a distinguished career in IT services and telecommunications, including 6 years as a General Manager of Hewlett Packard CIS business, 3 years as General Manager of Dell Russia, 2 years as GM of Bull Russia and 5 years as Country Manager of 3COM operations in Russia. Most recently, in 2012-2014 Alexander Chub served as General Director of Navigation Information Systems (NIS GLONASS), a subsidiary of AFK Sistema, Russia’s largest telecommunications holding. Mr Chub has a degree in computer science from the Moscow Institute of Electronic Technology (MIET) and MBA from MGIMO international business school and attended the Senior Executive Programme at London Business School. 2015-06-10 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Russian Towers | |
Schepkina st, 33 | ||
129090 Moscow | ||
Russia | ||
Phone: | (495) 967 32 32 | |
Fax: | (495) 967 32 31 | |
E-mail: | info@rtowers.ru | |
Internet: | rtowers.ru | |
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