Shakeups at the Top for CTC Media

December 16, 2011 World Screen Top Stories
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MOSCOW: Anton Kudryashov, the CEO of Russia’s CTC Media, has stepped down, with the company’s chief financial officer, Boris Podolsky, taking over on an interim basis until a permanent replacement has been appointed.

Kudryashov has exited by "mutual agreement," said a statement from CTC Media. He had been CEO since 2008. Podolsky, who has been CFO since 2007, takes over in the meantime.

CTC’s board also got a bit of a shakeup. Angelo Codignoni has been elected as co-chairman of the Board of Directors and Dmitry Lebedev has been appointed as a new member of the Board. Lebedev takes the Board seat held by Peter Aven, who has now stepped down.

Hans-Holger Albrecht, the co-chairman of CTC Media, commented: “The Board is delighted that Angelo has agreed to become co-chairman of the company, and I look forward to continuing to work closely with him to develop the CTC Media business. We also welcome Dmitry as a new member of the Board. He has deep business experience and knowledge of the Russian market, as well as a successful track record, which will contribute to our work moving forward.

“I would like to take this opportunity to thank Peter for his considerable contribution to the development of CTC Media over his eight years as co-chairman of the Board. He has played a major role in the Company’s success, and we wish him the very best for the future. Anton has handed over his responsibilities to Boris and we have initiated a search to recruit a permanent successor in the CEO role, as the company moves forward into the next phase of its development.”