Mikhail Oseevsky appointed as the new President of Rostelecom

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March 03, 2017, Moscow – Rostelecom PJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY) Board of Directors appointed Mikhail Oseevsky as its new President for a five-year term as of 4th of March 2017, to succeed Sergey Kalugin who has been in charge of the company since March 2013.

The Chairman of the Board of Directors of Rostelecom, Sergey Ivanov, wished Mikhail Oseevsky a success in his new role and expressed confidence that during his term the company will continue to strengthen its digital leadership in the market. He also thanked Mr Kalugin for his great achievements and fruitful work in the company.

Within the latest 4 years Rostelecom has made a significant progress on the path of its digital transformation. The number of households covered by fiber optic network has almost doubled to more than 32 mln, while the number of broadband and Pay TV clients grew 2.4 and 2.7 folds respectively. The company finished construction of the underwater fiber-optic communication line (UFOCL) to Magadan and Kamchatka. The revenue contribution from content and digital services to Group overall revenue reached 44%.

Mikhail Oseevsky commented:
«Rostelecom remains a backbone supplier for the country’s entire telecoms industry, to the extent that it influences both the quality of people’s lives and it drives the development of Russia’s digital economy. Rostelecom has significantly restructured its business, transforming it into a provider of digital services, but there is still room for improvement. As far as our commitment is concerned, we will continue to provide digital services in remote areas, and we will successfully implement the Bridging the Digital Divide project (BDD)».

Rostelecom operates in all segments of the telecommunications market and covers millions of households in Russia, demonstrating its leadership positions in this sector of the Russian economy. Rostelecom remains the undisputed leader of the high-speed Internet and pay-TV markets in Russia (by revenue), with more than a 38% share of the broadband market and an almost 70% share of the IPTV market. The Group is the leading key telecommunications services provider to government bodies and corporates of all levels, and has an important status as a key innovator and contributor for E-Government solutions, state services, IIoT and digital services for education, medicine, transport, energy sector, housing & utility services and security.

In 2016 the implementation of the BDD project led to the installation of 3,909 new Internet access points (28% of the total number of access points to be installed by Rostelecom) and the rollout of 34,000 km of fiber-optic cable line. The BDD project is seeking to connect 14,000 scarcely populated localities (with populations of 250-500 people), by providing them with Internet access through the installation of over 200,000 km of fiber-optic cable lines.

Mikhail Eduardovitch Oseevsky was born in Leningrad on November 30, 1960. He graduated from the Kalinin Politechnical Institute (Leningradskij Politekhnicheskij Institut imeni Kalinina) in 1983 with a Degree in Electrical Engineering - Electrophysics.

He has wide experience in high-ranking posts in Russian state and business institutions. From 1986 to 1993, he worked in the Scientific Research Institute of Electrophysical Apparatus (NIIEFA in Russian). From 1993 to 1999, he was Deputy Director and later Director of the Stock Exchange in St. Petersburg. From 1999, he was a Vice Chairman, and from 2003 First Vice Chairman of the Board Council of the Industrial and Construction Bank in Saint Petersburg. From 2003 to 2011 he worked as a Vice-Governor of St. Petersburg Administration. In 2011 he was appointed Deputy-Minister of Economic Development of Russia. From July 2012 to March 2017 he worked as a Deputy President and Chairman of VTB Bank Management Board.

In March 2017 he was appointed President of Rostelecom.