CTC Media Appoints Boris Podolsky as Chief Financial Officer
21 Nov 2007
Moscow – November 21, 2007 – CTC Media, Inc. (NASDAQ: CTCM), Russia’s leading independent television broadcaster, announced today the appointment of Boris Podolsky, 34, as Chief Financial Officer of the Company. Mr. Podolsky will join the Company effective December 10, 2007.
Alexander Rodnyansky, Chief Executive Officer of CTC Media, said, “Boris brings to CTC Media a broad base of knowledge and expertise in different areas of finance. Boris’s significant experience in US public company reporting and compliance will be an asset to CTC as we continue to execute on our growth strategy. On behalf of CTC Media, we welcome Boris and look forward to his joining our Company and contributing to our continued growth and success.”
Boris Podolsky commented, “I am very excited to join CTC Media, which is well positioned to continue to capitalize on the rapid growth of the Russian television market and a number of expansion opportunities in the CIS region. I look forward to working with the CTC management team to implement the Company’s strategic plan and enhance shareholder value.”
Mr. Podolsky, a Certified Public Accountant, has served as Director, Finance, Corporate Reporting and Compliance of Mobile TeleSystems (MTS) since 2004. MTS is a New York Stock Exchange-listed company and the largest mobile phone operator in Russia and the CIS, with more than 79 million subscribers. While at MTS, he was instrumental in building a centralized finance function with both strategic and operational capabilities. He also participated in the integration and restructuring of its numerous legal entities, briefly serving as acting Chief Financial Officer for MTS in 2006. Since March 2007, Mr. Podolsky was officially responsible for the tax, accounting and reporting functions at MTS. From 1994 to 2004, he held numerous positions at Ernst & Young, including five years as Manager, Assurance and Compliance, Corporate Finance & Transaction Support – USA, where he provided audit and transaction support services for a number of global media companies. He most recently served as Senior Manager of Assurance an
d Compliance – Russia where he provided project leadership for several pre-IPO projects. Mr. Podolsky received a Masters in Economics, with Honors, from St. Petersburg University of Economics and Finance.
In connection with joining the Company as CFO, the Company has agreed to grant to Mr. Podolsky an option to purchase 400,000 shares of its common stock at an exercise price equal to the closing trading price of the common stock on his first day of employment, December 10, 2007. Subject to certain limited exceptions, the option will vest as to 100,000 shares on the first anniversary of the grant date and as to the balance in 12 equal quarterly installments thereafter.
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