RMG.L Regulatory News (RMG)

15 Mar 2007 17:30

Rambler Media Limited ("Rambler Media" or "the Company"), the leading providerof internet and multimedia services to the global Russian-speaking community,today announces the appointment of Mark Opzoomer as Chief Executive Officer("CEO") and Arthur Akopyan as Chief Financial Officer ("CFO") with immediateeffect. APPOINTMENT OF NEW CEO The appointment of Mark Opzoomer as CEO follows the rapid development of RamblerMedia since its IPO in July 2005 into the leading multi-service online resourcefor the global Russian-speaking community. Mr. Mark Opzoomer, aged 49, has extensive knowledge of internet, communicationsand media markets in many different countries and has provided Rambler Media'sBoard with direct experience of these industries since 2005. Mark has had 24years of corporate operating and deal making experience. He was the ManagingDirector and Regional Vice-President of Yahoo! Europe from July 2001 to December2003, where he successfully restored growth by focusing on specific productlines. Prior to joining Yahoo! Europe, Mr. Opzoomer was Deputy Chief Executiveof Hodder Headline plc, a LSE-listed book publishing company, and previouslyCommercial and Finance Director of Sega Europe Ltd and Commercial Director ofVirgin Communications Ltd. Since 2003, Mr. Opzoomer has been a privateconsultant and non-executive director on the Boards of several companiesincluding Newbay Software Limited since June 2004, Oxigen II Limited since July2004, Web Reservations International Ltd since March 2006, MIVA Inc since August2006, and Entertainment One Ltd since February 2007. In addition, Mr. Opzoomerserved as Chairman of the audit committee of Autonomy Corporation plc fromOctober 2003 to October 2004, and has been Chairman of the audit committee andnon-executive director of Rambler Media since 2005. Mr. Opzoomer is one of thefounding partners and a director of Bond Capital Partners Ltd, a provider oflate stage structured finance to mid-market companies in Europe. Mr. Opzoomer isa chartered accountant, has an MBA (IMD Lausanne), and has also completed theLondon and Wharton business school programmes for public company directors. Mr.Opzoomer is a dual UK/Canadian citizen. Current CEO Irina Gofman, aged 36, joined Rambler Media in 2004 and led theCompany's IPO on the London Stock Exchange's AIM market. Ms. Gofman will bestepping down from her day-to-day activities during a transitional period andwill remain on the Board of Rambler Media as director in a non-executivecapacity with immediate effect. Mr. Opzoomer will become an executive directoron the Board of Rambler Media with immediate effect. Mr. Robert Brown, Chairman of Rambler Media, commented: "The Board and I aredelighted to announce the appointment of Mark as CEO. His internationaloperating experience in internet, media and technology in companies includingYahoo! Europe will enable us to take Rambler to the next stage of itsdevelopment, and to capitalize on the accelerated growth in online advertisingand increasing internet penetration in Russia. Mark's recent experience asnon-executive director and Chairman of the audit committee of Rambler Mediapositions him very well to lead the Company in an executive role. "I would like to thank Irina for her dedication and hard work during her time asCEO of Rambler Media and for successfully shaping Rambler's business into whatis one of Russia's fastest growing companies. Irina's extensive knowledge of theRussian media market and excellent business and communication skills greatlycontributed to the growth of Rambler Media and to the creation of shareholdervalue. The Company will continue to benefit from her advice through her presenceon Rambler Media's Board". APPOINTMENT OF NEW CFO Mr. Arthur Akopyan, aged 33, joins Rambler Media from Synterra Group, one ofRussia's largest Internet Service Providers (ISP) and a large Internet Protocol(IP) transit provider, where he had been CFO and VP corporate finance sinceAugust 2005. Mr. Akopyan was responsible for all aspects of financialmanagement, including the consolidation of several sizeable acquisitions,business restructuring and the adoption of IFRS reporting standards. Prior tohis experience at Synterra Group, he was Finance Director of PeterStar ZAO, StPetersburg's leading alternative telecom operator, from 2001 to 2005 supportingthe company's rapid growth during that time. Mr. Akopyan was also previouslyRegional Finance Director at Metromedia International Telecommunications Incfrom 1997 to 2001. Mr. Akopyan is a qualified accountant and has been anassociate member of AICPA since 2001. Current CFO and executive director James Mullins is resigning from his positionsto pursue other interests. Arthur Akopyan has been appointed as executivedirector on the Board of Rambler Media with immediate effect. Mr. Robert Brown commented: "We are pleased to welcome Arthur to Rambler Media.Arthur has a strong track record managing the finances of large Russian telecomand media businesses including Synterra Group and Peterstar Telecom. He has theskills required to manage Rambler's finances efficiently and enhance ourposition as the leading multi-service internet company for the worldwideRussian-speaking community. Jim has been an important member of our executivemanagement team, and I wish him success in his future endeavours." For further information, please visit www.ramblermedia.com or contact: \* TRambler Media Shared Value LimitedRobert Brown Nicolas DuperrierTel. +7 495 920 6207 Tel. +44 (0) 20 7321 5010 rambler@sharedvalue.net\* T \* TING Wholesale BankingDaniel Friedman / William MarleTel. +44 (0) 20 7767 1000\* T ABOUT RAMBLER MEDIA Rambler Media is an integrated and diversified Russian language media,entertainment, services and content delivery company which operates variousinternet properties including the leading Russian language internet portal andsearch engine 'rambler.ru', on-line newspaper 'Lenta.ru', broadband ISP 'RamblerTelecom', interactive advertising company 'Index20', and mobile content serviceprovider 'Rambler Mobile'. Rambler Media's shares are traded on the AIM marketof the London Stock Exchange under the symbol 'RMG'. For more information onRambler Media, visit our corporate website at www.ramblermedia.com. Certain statements within this announcement constitute forward lookingstatements. Such forward looking statements involve risks and other factorswhich may cause the actual results, achievements or performance of the Companyto be materially different from any future results, achievements or performanceexpressed or implied by such forward looking statements. Such risks and otherfactors include, but are not limited to, general economic and businessconditions, changes in government regulations, and court interpretations of suchregulations, currency fluctuations (including the US$/Rbs rate), competition,changes in development plans. There can be no assurance that the results andevents contemplated by the forward looking statements contained in thisannouncement will, in fact, occur. Any forward looking statements made in thisannouncement represent management's best judgment as to what may occur in thefuture and are correct only as at the date of this announcement. The Companywill not undertake any obligation to release publicly any revisions to theseforward looking statements to reflect events, circumstance or unanticipatedevents occurring after the date of this announcement except as required byapplicable law or by any applicable regulatory authority. Copyright Business Wire 2007