Hermansson Named To CTC Media Board

December 18, 2009 (FinancialWire) — Russian media firm CTC Media, Inc. (NASDAQ: CTCM) has appointed Mathias Hermansson, chief financial officer of Modern Times Group MTG AB, to the CTC Media board.

MTG is the parent company of MTG Russia AB, which is CTC Media’s largest shareholder with a 39.4% equity stake.

Hermansson replaces Kaj Gradevik, MTG’s director of business development, as one of MTG Russia AB’s three representatives on the CTC Media board. According to the stockholders’ agreement between the principal stockholders of the company, three members of CTC Media’s board are designated by MTG Russia and three by Alfa CTC Holdings Ltd., an affiliate of Alfa Bank.

Hermansson was appointed as CFO of MTG in March 2006, prior to which he served as group financial controller between 2001 and 2006 and held various financial positions at MTG’s Viasat Broadcasting, Radio and Internet Retailing businesses. Moscow-based CTC Media is an independent media company with operations throughout Russia and elsewhere in the CIS. It operates three free-to-air television networks in Russia, Channel 31 in Kazakhstan and TV companies in Uzbekistan and Moldova.

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