27 Jul 2018 10:00
Appointment of new Chief Executive
Almaty, 27 July 2018 - Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan, today announces the appointment of Rainer Rathgeber as Chief Executive Officer subject to receiving relevant regulatory authorisation.
Mr. Rathgeber will succeed Arti Ots, who has been CEO of the Company since 2014. Mr. Ots will step down from his position on 13 August 2018. Mansurdzhon (Mansur) Khamidov, VP Fintur Markets at Telia Company will from that date assume the role of CEO during the transition period.
Rainer Rathgeber has extensive international experience in the telecommunications industry, having worked across four continents. Prior to joining Kcell, he was CEO of Ufone, the subsidiary and mobile arm of Pakistan Telecom. Between 2013 and 2016, Rainer served as Group CCO at Etisalat (Emirate Telecommunication and Satellite Company). Prior to that, he held a number of senior roles in Deutsche Telekom AG and T-Mobile International AG.
Commenting on the changes, Jan Erik Rudberg, Chairman of the Kcell Board of Directors, said:
"We are delighted that Rainer will be taking the role of Chief Executive of Kcell. His vast international experience in the telecommunications sector across a range of markets will contribute immensely to the Company's growth and development.
"I would like to take this opportunity to thank Arti Ots for his dedicated work and contribution to the Company. His experience and leadership skills have been invaluable to Kcell during the last four years in a very challenging business environment."
Rainer Rathgeber commented:
"I am delighted to be joining Kcell, a leading mobile company operating in the dynamic economy of Kazakhstan. I am very much looking forward to working with the Kcell team and focusing on the continued delivery of high quality services and value to Kcell's customers and shareholders."
Enquiries
Kcell | |
Investor Relations | |
Irina Shol | Tel: +7 727 2582755 ext. 1002 Investor_relations@kcell.kz |
Media Natalya Eskova |
Теl: +7 727 2582755 Pressa@kcell.kz
|
International Media | |
Instinctif Partners | Tel: +44 207 457 2020 |
Kay Larsen / Galyna Kulachek |
Company Overview
Kcell provides mobile voice telecommunications services, messaging services, value-added services such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass market subscribers. The Company offers its services through its extensive, high quality network which covers substantially all of the populated territory of Kazakhstan.
In December 2012, Kcell successfully completed its offering of GDR's on the London Stock Exchange and common shares on KASE. The price was set at USD 10.50 per GDR and KZT 1,578.68 per share with each GDR representing one share. The offering consisted of a sale by TeliaSonera of 50 million shares, which represent 25 percent of Kcell's share capital.
Kcell plans to benefit from the significant growth potential for mobile data services in Kazakhstan. The Company intends to continue to invest in the deployment of its 3G/4G network to expand coverage and to introduce high quality services. Kcell aims to maintain its market leadership in terms of revenue and the number of subscribers by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the high quality of its network and enhancing its brand value.