MTG Nomination Committee proposes election of new Board Member

MTG Nomination Committee proposes election of new Board Member

April 2, 2012
08.00 CEST
In advance of the Modern Times Group MTG AB (publ.) (“MTG” or “the Group”) Annual General Meeting of shareholders to be held on Tuesday 8 May 2012, the MTG Nomination Committee, which is comprised of representatives of Investment AB Kinnevik; Lannebo fonder; Nordea investment funds; and Swedbank Robur Funds, proposes the re-election of David Chance, Simon Duffy, Lorenzo Grabau, Alexander Izosimov, Mia Brunell Livfors, Michael Lynton and Cristina Stenbeck as non-executive Board Directors. The committee also proposes the election of Blake Chandlee as a new non-executive Board Director. Furthermore, the Nomination Committee proposes the re-election of David Chance as Chairman of the Board of Directors.

Blake Chandlee has over 15 years’ experience in the online media, social networking and related industries. He is Vice President of Global Agency Relations and Global Business Accounts at Facebook, and is responsible for the Company’s partnerships and commercial relationships with key global accounts. Blake has worked at Facebook since 2007 and been a key part of building its international footprint through the establishment of 12 international offices and coverage of a further 23 countries across Europe, the Middle East, Africa, Latin America and the Asia Pacific region.

Prior to joining Facebook, Mr. Chandlee worked for Yahoo! for 5 years in a number of senior roles including as Vice President and Commercial Director of the UK business, where he was instrumental in setting strategy, leading agency and client sales teams and developing partnerships across Europe. He was also the founder and senior partner of consulting firm Kryptonite Ventures and a member of the founding teams of three further ventures in the consumer / media space. Blake graduated with a bachelor’s degree in management from Gettysburg College in the United States.

David Marcus has notified the MTG Board of Directors and the Nomination Committee of his intention not to seek re-election as a Director at this year’s Annual General Meeting of shareholders. David joined the Board as an independent non-Executive Director in 2004 and is Chairman of the Board of Directors’ Remuneration Committee.

Nomination Committee Chairman Cristina Stenbeck commented: “The Nomination Committee believes that the election of Blake Chandlee would further strengthen the media, online, advertising and emerging market knowledge and experience of the MTG Board of Directors. Blake has worked as an adviser to the Board for the past nine months and is therefore familiar with the Group’s strategy and operations. We are delighted to be able to nominate such a highly qualified individual for election to the MTG Board.”

“I would also like to thank David Marcus for the invaluable contribution that he has made to the development and ongoing work of the MTG Board of Directors over the last 8 years. His insight and understanding have been a key asset in the evolution and successful execution of MTG’s strategy as the Group has changed shape, focused on its core broadcasting operations and expanded into new markets. We wish David every continued success with his other ventures.”


For further information, please visit or contact:

Chairman of Nomination CommitteeCristina StenbeckTel:                               +46 (0) 8 562 000 00

Matthew Hooper, Head of Corporate Communications & PlanningTel:                               +44 (0) 7768 440 414Email:                  /

 Modern Times Group (MTG) is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses. MTG’s Viasat Broadcasting operates free-TV and pay-TV channels, which are available on Viasat’s own satellite platforms and third party networks, and also distributes TV content over the internet. MTG is also the largest shareholder in CTC Media, which is Russia’s leading independent television broadcaster.

Modern Times Group is a growth company and generated record net sales of SEK 13.5 billion in 2011. MTG’s Class A and B shares are listed on Nasdaq OMX Stockholm’s Large Cap index under the symbols ‘MTGA’ and ‘MTGB’.

The information in this announcement is that which Modern Times Group MTG AB is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 08:00 CET on 2 April 2012.

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