New Delhi: Russian Conglomerate Sistema's new group Chief Financial Officer Vsevolod Rozanov will continue to have direct role in its Indian telecom arm, SSTL, as its Deputy Chairman.
"The Board also approved the appointment of Vsevolod Rozanov as the Deputy Chairman of the Board. Incidentally he would also be taking over as the Senior Vice President and CFO of Sistema JSFC that holds majority stake in SSTL with effect from June 1, 2013," Sistema Shyam Teleservices (SSTL) said in a statement Friday.
Sistema has elevated Rozanov to a global role as its group Senior VP and CFO from his earlier position of Chief Executive Officer at SSTL. He has been replaced by Dmitry Shukov who earlier held senior management positions in Tele2 Russia and MTS.
The Russian conglomerate holds 56.68 percent stake in SSTL along with Russian government which has 17.14 percent in the firm. Rest of the stake is held by company's Indian partner Shyam Teleservices.
Sistema ventured into Indian telecom space with Rozanov as CEO of its joint venture Sistema Shyam TeleService in 2008.
He continued to the position after the Supreme Court cancelled 21 out of 22 licences of SSTL in February 2012.
Under Rozanov leadership, SSTL acquired fresh permits to continue operations 8 circles, excluding Rajasthan business where its licence was not effected by the apex court judgement.
Sistema has also induced its First Vice-President for Telecom Assets Portfolio Management, Anton Abugov on the board of SSTL. He serves as member of the board management of Sistema JSFC and is also a member on the board of various subsidiary of the group involved in Oil and petroleum business.
Ron Sommer will continue to be the Chairman of the SSTL Board. Other members of the SSTL board from Sistema include Alexander Gorbunov who at present serves as Executive Vice President responsible for Telecom Assets Development of Sistema JSFC and Vice President of Corporate Communications of the group, Andrey Terebenin.
Indian board members from its partner firm Shyam Teleservices include Shyam Telecom's Chairman and Managing Director Rajiv Mehrotra along with Ajay Khanna, Alok Tandon, Bharat V Patel, Madhukar, Suman Sehgal and Vikram Kaushik.
First Published: Friday, May 31, 2013, 13:48