Golden Telecom Announces Election of New Board of Directors
18 May 2007
MOSCOW, Russia (May 18, 2007). Golden Telecom, Inc. (“Golden Telecom” or the “Company”) (NASDAQ: GLDN), today announced that, at the Annual Meeting of its shareholders held on May 17, 2007 in Brussels, Belgium ten directors were elected to the Board of Directors of the Company for a one year term. Eight directors were re-elected to the Board of Directors, including Mr. Peter Aven, Mr. Kjell Morten Johnsen, Mr. Patrick Gallagher, Mr. David Smyth, Mr. Jean-Pierre Vandromme, Mr. David Herman, Mr. Vladimir Bulgak, and Mr. Oleg Malis. Two new directors, Mr. Alexei Reznikovich and Mr. Thor Asbjorn Halvorsen were elected replacing Mr. Khudyakov and Mr. Naevdal. Mr. A. Reznikovich was elected the Chairman of the Board.
Since 2002 Mr. Reznikovich has worked for Alfa Group Consortium, his last position being Director of Group Portfolio Management and Control of Alfa Group Consortium, responsible for management-audit as well as the application and control over fulfillment of strategic recommendations for all companies in the Group. In June, 2005 he was appointed Chief Executive Officer of Alfa Telecom (later re-named Altimo). From 1993 to 2000 Mr. Reznikovich worked in McKinsey & Co. In 2000 he and his partners established a new company, EMAX, which develops Internet centers in Russia.
Mr. Reznikovich is a graduate of the Moscow State University, Economics Faculty and received his MBA from both Georgetown University (USA) and INSEAD (France) in 1993.
Mr. Reznikovich was born in Moscow, Russia on 15 April 1968.
Statements made in this press release are forward looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements include those on the expected benefits from the composition of the Company’s current Board of Directors. It is important to note that such statements involve risks and uncertainties, which may cause outcomes to differ materially from those set forth in these statements. Such risks and uncertainties include, but are not limited to, the possibility that the expected benefits to the Company from the Company’s current Board of Directors do not materialize. Additional information concerning factors that could cause results to differ materially from those in the forward looking statements is contained in the Company's filings with the U.S. Securities and Exchange Commission including the Company's quarterly reports on Form 10-Q, current reports on Form 8-K filed during 2007, and the Company's annual report on Form 10-K for the year ended December 31, 2006.
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