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Friday, March 13, 2015

Vimpelcom names former SFR boss as new CEO, (NMS: VIP)

Telecoms group Vimpelcom Ltd has named Jean-Yves Charlier, former head of France's second-largest mobile operator SFR, as its new chief executive. The new boss faces a tough challenge, with Vimpelcom having warned last month it expects a difficult year ahead, mainly due to the economic crises in Russia and Ukraine.The Amsterdam-based mobile operator, which piled up more than $20 billion of debts when expanding outside Russia in 2011, is also reportedly in talks with Hutchison Whampoa over merging their Italian units.Charlier will replace Jo Lunder as CEO of the firm, which operates in Russia, Italy and several emerging markets. Lunder is stepping down and will advise private equity firm APAX on investment opportunities, Vimpelcom said on Friday.Lunder, who has been in Vimpelcom's top job since July 2011, will leave the role on Apr. 13 but will serve as an adviser to Charlier during a transition period until July 13, it added.

VimpelCom Ltd. (VimpelCom) is a Netherlands-based holding company. Shares of VIP fell by 0.56% or $-0.03/share to $5.37. In the past year, the shares have traded as low as $3.09 and as high as $9.73. On average, 2918170 shares of VIP exchange hands on a given day and today's volume is recorded at 1489560.