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. Last Updated: 07/27/2016

Svyazinvest Names New CEO

minsvyaz.ruAlexander Kiselyov
Svyazinvest, the national fixed-line telephone company, named Alexander Kiselyov chief executive officer as the company prepares for a stock sale.

Kiselyov, an aide to IT and Communications Minister Leonid Reiman, was appointed for five years, the state-controlled company said in a statement on its web site Friday.

Kiselyov, 44, replaces Valery Yashin, who resigned on April 28 after running the company since 1999.

The government has said it would sell its remaining 75 percent stake in Svyazinvest almost every year since 1997, when it auctioned 25 percent to a group of investors including U.S. billionaire George Soros for $1.88 billion. Soros later called the investment the worst he ever made.

Kiselyov, an aide to Reiman since 2004, worked for DHL International in Russia and former Soviet countries between 1991 and 1995. He then worked as regional director at Energizer Holdings, the second-largest U.S. razor and battery maker, until 1998. Kiselyov is married and has three children, the statement noted.

In October 2000, Kiselyov was appointed deputy IT and communications minister and in April 2002 became first deputy minister.

Svyazinvest's board also recommended that the annual shareholder meeting on June 29 vote on paying all its 2005 net income of 243.3 million rubles ($9 million) in dividends, the company said.