Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces the decisions of the Extraordinary General Meeting of Shareholders (EGM) held earlier today.
The Meeting adopted the following resolutions:
- To elect the following persons to the MTS Board of Directors (BoD):
-Mr. Anton Abugov, First Vice-President, Head of Strategy and Development, Sistema;
-Mr. Alexey Buyanov, Senior Vice President, Head of Financial Group, Sistema;
-Mr. Daniel Crawford, independent director;
-Mr. Sergei Drozdov, Senior Vice President, Head of the Property Group, Sistema;
-Ms. Tatiana Yevtoushenkova, Advisor to the President of Sberbank;
-Mr. Mohanbir Gyani, independent director;
-Mr. Paul Ostling, independent director;
-Mr. Vitaliy Savelyev, First Vice President, Head of Telecommunications Asset Management Division, Sistema;
-Mr. Mikhail Shamolin, President and CEO of MTS.
As the result, the Company’s BoD has increased from seven to nine members of which three are now independent. The change in the number of directors was completed in accordance with the Russian law that requires companies with more than 10,000 registered shareholders to have no less than nine Board members;
- To approve new wording of the Statute on MTS’ Board of Directors;
- To approve new wording of the Statute on MTS’ Executive Board;
- To approve supplements and amendments to be entered into the Company’s Charter.
At a subsequent meeting of the new Board of Directors, Mr. Vitaliy Savelyev was named Chairman of the Board with Mr. Sergei Drozdov becoming Vice Chairman. Mr. Daniel Crawford was appointed Chairman of the Company’s Audit Committee and the Remuneration and Appointments Committee; Mr. Mohanbir Gyani and Mr. Paul Ostling were elected as members of the two Committees.