Alfa-Bank exec replaces X5 Retail's Khasis on CTC Media board
MOSCOW. Aug 3 (Interfax) - Elena Grechina, Senior Vice President at Alfa Bank, has been re-appointed to the CTC Media Board of Directors to replace Lev Khasis, who has resigned from the Board, CTC Media said in a press release.
Grechina has been designated to serve on the CTC Media Board by Alfa CTC Holdings Limited, which is an affiliate of Alfa Bank, in accordance with the terms of the stockholders' agreement between the Company and its two largest stockholders, Alfa and MTG Russia AB.
Grechina previously served as a member of CTC Media's Board from March 2008 to April 2009. The CTC Media Board currently consists of nine members, of which three are designated by Alfa and three are designated by MTG Russia AB, which is a wholly owned subsidiary of Modern Times Group MTG AB, in accordance with the stockholders' agreement.
CTC Media is a leading independent media company in Russia, with operations throughout Russia and elsewhere in the CIS. It operates three free-to-air television networks in Russia - CTC, Domashny and DTV, Channel 31 in Kazakhstan and TV companies in Uzbekistan and Moldova. CTC Media also owns two TV content production companies, Costafilm and Soho Media.
CTC's major shareholders include MTG (38.91%) and Alfa Group (25.64%). Around 33% of the company's shares are traded on the Nasdaq.