CTC Media Announces Lorenzo Grabau as Co-Chairman of Board of Directors

CTC Media CTCM today announced that Lorenzo Grabau has been appointed as a member and Co-Chairman of CTC Media's Board of Directors, effective upon the closing of the 2013 Annual Meeting of Stockholders to be held on April 30, 2013. Mr. Grabau has been appointed to fill a vacancy being created by the departure from the Board of Hans-Holger Albrecht, whose resignation will be effective as of the close of the Annual Meeting. Mr. Albrecht, formerly CEO of Modern Times Group MTG AB, an affiliate of MTG Russia AB, CTC Media's largest stockholder, will focus on his current role as President and CEO of Millicom International Cellular S.A. Mr. Grabau has been designated for appointment by MTG Russia AB pursuant to a stockholders' agreement among the Company, MTG Russia AB and Telcrest Investments Limited. CTC Media has also announced that the Board is nominating Dmitry Lebedev and Werner Klatter for re-election to the Board at the Annual Meeting. Mr. Lebedev has been designated as a director by Telcrest pursuant to the stockholders' agreement. In addition, CTC Media has announced that Mathias Hermansson See full press release