Business Environment in Russia

Business Environment in Russia : Growth in Russia: Success & Hurdles

“Vassily V. Sidorov has been President and General Director of Mobile Telesystems OJSC since October 25, 2003 and serves as Chief Executive Officer. Mr. Sidorov has been a Director of Mobile TeleSystems OJSC in June 2004 and also served as one of Mobile TeleSystems OJSC's Directors from 2002 to August 2003. He was acting President of MTS since appointment of his predecessor Mikhail Smirnov on the post of General Director of Moscow City Telephone Network in September 2003.

The Russian business environment of post Soviet Union era has witnessed an exponential growth across a broad spectrum of industries and business sectors with all the opportunities as well as the challenges that such evolving business environments entail. We are therefore privilaged to have Mr Vassily Sidorov share his prespective based on his established track record in the field to address the subject matter.

Mr Sidorov is an Executive Consultant to the Telecom Industry. His most recent corporate engagement has been that of the President and CEO of Mobile TeleSystems (MTS), the largest mobile phone operator in Central & Eastern Europe from September 2003 to April 2006. During his tenure at the helm of MTS the company’s market cap, revenues and net income more than doubled, and subscriber base increased more than fivefold to over 60 million customers (http://www.businessweek.com/it100/2005/company/MBT.htm); (http://www.capitallinkrussia.com/press/companies/50010341/24019.html).

Prior to his appointment to MTS, Mr. Sidorov worked at Sistema Telecom for three years as First Vice President for Finance and Investments. In this position he was responsible for the M&A, corporate finance and investment affairs of the company. Mr. Sidorov was on the Board of MTS from 2002 to 2006. Prior to joining Sistema Telecom, Mr. Sidorov served as Deputy General Director/CFO of Svyazinvest national telecommunications holding from 1997.

From 1995 to 1997, he owned and managed several companies specializing in investment and M&A advisory, as well as equity and fixed-income trading. His previous professional experience includes various positions in Sector Capital, an asset management operation in Moscow, Barents Group LLC, a corporate finance advisory arm of KPMG Peat Marwick in Washington, D.C., Arthur Andersen in Moscow and the New York Mercantile Exchange.

Vassily Sidorov is a graduate of the Wharton School of Business at the University of Pennsylvania and of the International Law Faculty of the Moscow State International Relations Institute.