OREANDA-NEWS. On 9 October 2013 the Supervisory Board of Ukrtelecom introduced new positions of the company's chairman and director.

Lasha Mikava is appointed the Chairman to carry out strategic management and prepare and oversee the development program of Ukrtelecom.

Igor Kravets is appointed the Director responsible for ensuring efficient operations and implementing the approved development strategy. The director is the sole executive authority in the company.

“The global practices divide operational and strategic management of business processes that improves efficiency of the company and prevents a conflict of interests and excessive concentration of powers by a single manager,” said Ukrtelecom Supervisory Board Chairman Leonid Netudykhata. “We believe the ongoing changes in the structure and organization will improve the efficiency of Ukrtelecom's operations, cement its leadership in Ukraine's telecom market and make the company more focused on the interests of our customers. The approach will ensure the utmost effectiveness in delivery of the goals set by the shareholders.”

We remind that an extraordinary General Meeting of Ukrtelecom's Shareholders took place on 8 October 2013 and approved new members of the Supervisory Board.

To harmonise the company's documents with the global and corporate standards of SCM Group, the extraordinary meeting amended Ukrtelecom's Articles of Association and a number of internal regulations. The alterations mostly pursue a balanced distribution of powers between the management bodies. In particular, the functions of strategic management and control gained more authority. In addition, the shareholders changed the executive management by dissolving the collective executive body “Ukrtelecom Board”.