Russia's independent media group CTC Media, Inc. (CTCM) said Tuesday it named Anton Kudryashov new chief executive officer, effective August 4.
The company noted that Alexander Rodnyansky, CTC's current chief executive officer and president, will now remain as its president and a member of the Board. Rodnyansky will continue to take part in the company's programming strategy, investor relations, and content procurement and development.
Since CTC is on the track of growth and diversification of its business, it feels that Kudryashov, a media entrepreneur, is the right individual to lead the company through new operational and organizational challenges.
Kudryashov, who held senior executive positions in insurance and private equity, started his career with the international investment bank CS First Boston. In 1998, he founded Afisha Publishing House and chaired its board until 2005.
Commenting on his appointment, Anton Kudryashov said, "My previous experience as a senior executive in a variety of businesses, together with my background as a media entrepreneur, provide a solid foundation for managing CTC Media through the growth and diversification of its business."
CTCM closed Monday's trading at $25.12, down $0.25, on a volume of 595K shares.
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