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Vimpelcom CEO Resigns
May 17, 2011 15:16


Alexander Izosimov, Chief Executive of Vimpelcom, will quit the company. Under his leadership Vimpelcom grew into a global telecommunication giant, becoming the first global company with Russian roots. Vimpelcom will replace Izosimov with Norwegian chairman Jo Lunder.

Izosimov was born in Yakutsk, graduated from the Moscow Aviation Institute with an M.S. degree in 1987 and started his business working as a junior consultant in McKinsey office in Stockholm. In 1991 he was among three people, chosen by a well-known consulting firm to understand if Russians could work good in a business. Izosimov proved, that Russians could do that.

Izosimov studied computer-aided manufacturing in MAI. He could continue dealing with it, but after divorce he started another life. As a result, Izosimov began to cooperate with the International Students Association AIESEC, organizing overseas internship for MAI students, but then McKinsey found him.

The consulting practice at McKinsey's office was an excellent school for Izosimov. In an interview he said: "You should work in consulting at the beginning and at the end of your career. At the beginning you learn fast and at the end you have a lot to say".

Traditionally, it is considered, that the weak point of McKinsey is the transition from artificial reality to the real management of the business. But it doesen't doesn't concern Izosimov. He graduated the business school INSEAD in Fontainebleau and went to work at the Russian subdivision of Mars.

Izosimov is a workaholic, he works 60 hours a week. In Mars company he obtained quick promotion. From planning manager he grew up to the Regional Mars President for the CIS, Central Europe and Scandinavia and entered the board of the whole Mars corporation.

In 2003 Izosimov made another dramatic career spurt — he was appointed CEO of VimpelCom. In the company Izosimov become a very influential figure in Russian business. In 2004 the Kommersant newspaper announced Izosimov the best Russian manager. The next year Vimpelcom made a rebranding headed by Izosimov.

It will be easy to understand the degree of Izosimov's authority if we remember a story from 2006. In the middle of that year the manager talked about his own resignation. He said he would have left the company if its largest shareholders Altimo and Norwegian Telenor companies had continue the conflict.

The dispute has arisen due to the fact that the companies failed to agree on business development in Ukraine. Izosimov failed to reconcile the shareholders and he resigned in 2009. To replace him the company had to hire two people at once. In the autumn of that year he came back.

Izosimov's contract expires in November, 2011, but he will leave the company earlier as he has already fulfilled all the tasks — he created the sixth-largest cellular operator in the world.

According to the Bloomberg, "Lunder, who is currently executive vice president at Norwegian investor Ferd Capital, will take over the post after Izosimov steps down on June 30, Amsterdam-based VimpelCom said in a statement. Augie Fabela, a founder and former chairman of VimpelCom, was nominated to succeed Lunder as chairman".

"We completed two groundbreaking transactions within the past year that have transformed the company into a top-tier global telecoms operator. I am looking forward to leading VimpelCom to new heights and to extracting maximum value for all of our shareholders by focusing on operational performance and our respective market positions", said Lunder in his statement. Lunder will work on a three and a half year contract.

Sources:
lenta.ru
reuters.com
bloomberg.com
 


Tags: Russian business     

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