Top manager from Alfa Group takes helm of VimpelCom's holding structure

MOSCOW. May 23 (Interfax) - Leonid Afendikov has become CEO of JSC Copernicus-Invest 3, which owns 100% of shares in PJSC VimpelCom , according to records in the Unified State Register of Legal Entities.

In this position, he replaces Alexander Torbakhov, chairman of VimpelCom's board of directors (who, according to the operator's disclosures, was listed as the sole owner of Copernicus-Invest 3 as of March 31 this year). Similar changes occurred in two other companies registered under Torbakhov - JSC Copernicus-Invest and JSC Copernicus-Invest 2 - now also headed by Afendikov.

According to open sources, Afendikov serves as senior director at the shareholder office of Alfa Group, which was historically the primary investor in VimpelCom.

VimpelCom did not respond to inquiries about whether this management change signals Alfa Group's return to the company's governance.

All three companies - JSC Copernicus-Invest 3, JSC Copernicus-Invest and JSC Copernicus-Invest 2 - were registered in November 2022 ahead of VEON's sale of VimpelCom to the Russian operator's management team led by Torbakhov. The acquisition was formalized through JSC Copernicus-Invest 3.

VEON (originally named VimpelCom Ltd.) was established in 2010 when Alfa Group and Norwegian holding Telenor merged Russia's VimpelCom and Ukraine's Kievstar into a holding structure. The holding later incorporated assets in other countries.