Rusian mobile operator Megafon announced that CEO Sergey Soldatenkov has decided to leave the company before the expiry of his contract in 2019. The management board of Megafon will recommend to shareholders that executive director Gevork Vermishian replace Soldatenkov as CEO. A general shareholders meeting will be held on 13 November to vote on the proposal.
Soldatenkov has been involved with the company since its creation, almost 20 years ago. In a statement, he said it was time to hand the reins to Vermishian. Since Vermishian became executive director a year ago, he has gradually taken more responsibility for operational matters, and the two have been working together on the transition.
Ivan Streshinsky, CEO of Megafon's controlling shareholder USM Management, thanked Slodatenkov for his "huge contribution" to the company over the years. The decision in 2016 to ask him to return as CEO "clearly paid off handsomely", with improved revenue and performance, he said.
