Rostelecom’s Board of Directors extends Sergey Kalugin’s term as President

Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that the Board of Directors has decided to extend Sergey Kalugin’s term as President of the Company.

Sergey Kalugin commented: “I am delighted that the Board has elected to extend my term. We are starting to see the first results of the new strategy we approved at the end of 2013 and I am looking forward to continuing to drive the achievement of our strategic goals over the coming years. Our short-term goals are clear. We must put maximum effort into fostering our competitive positions to support top line growth as well as improving the efficiency of our business processes and, thus, enhancing the fundamental value of the Company for the benefit of all our shareholders.”

After graduating from the economics faculty of Moscow State University, Mr Kalugin started his career as an economist at AB Incombank where he was promoted to Managing Director of Investments before becoming President of Inkom Capital, an investment and financial services company. He served as CEO of RTR-Signal in 2000, and between 2001 and 2007 he was the founder and CEO of National Cable Networks. He was the CEO of National Telecommunications in2007-2008 and 2009-2012, and served as managing partner of WebMediaGroup in 2009. He was named President of Rostelecom in March 2013.