💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Russia ministry proposes Semyonov as Svyazinvest CEO

Published 09/17/2010, 10:24 AM
Updated 09/17/2010, 10:28 AM

MOSCOW, Sept 17 (Reuters) - Russia's Communications Ministry has proposed appointing Rostelecom's Vice President Vadim Semyonov as the new chief executive of state telecoms giant Svyazinvest, Interfax news agency reported on Friday.

The post became vacant last week after Yevgeny Yurchenko filed his resignation due to what sources said was a conflict with the management of Rostelecom -- at the centre of a major restructuring of its parent company Svyazinvest.

Apart from Semyonov, who is in charge of legal and corporate issues at Rostelecom, candidates included Leonid Reiman, a former communications minister, Svyazinvest's deputy CEO Mikhail Leshchenko, Comstar's CEO Sergei Pridantsev and Igor Zabolotny, head of another Svyazinvest unit, Central Telegraph.

The ministry has submitted a draft order to appoint Semyonov as Svyazinvest's new CEO, Interfax quoted Deputy Prime Minister Sergei Ivanov as saying on Friday.

The Svyazinvest reform, aimed at streamlining operations and boosting state influence in the sector, will see Rostelecom, in which it owns a 51 percent stake, merge with seven regional telecoms operators, in which it also has controlling stakes. (Reporting by Maria Kiselyova; Editing by Jon Loades-Carter)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.