New appointments to CTC Media Board

September 26 2014

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment group, today announces that MTG President & CEO Jørgen Madsen Lindemann has been elected as Co-Chairman of CTC Media, Inc., and that MTG Chief Financial Officer Mathias Hermansson has re-joined the CTC Media Board as a Director. MTG non-executive Board member Lorenzo Grabau is stepping down from his role as the Co-Chairman and a Director of CTC Media.

MTG has the right to designate three members of the CTC Media Board of Directors, and to designate one of these members as a Co-Chairman of the Board. The third MTG designated member of the CTC Media Board is Irina Gofman, Executive Vice President of MTG’s Russian, CIS & Emerging Market Pay-TV Broadcasting operations.

Lorenzo Grabau is Chief Executive Officer of Investment AB Kinnevik, which is MTG’s founding and largest shareholder, and is stepping down from the CTC Media Board in order to focus his time fully on Kinnevik and its portfolio of listed and unlisted entities.

Mathias Hermansson, who previously served as a member of the CTC Media Board of Directors from December 2009 until April 2013, is responsible for MTG’s financial management, strategy team, corporate finance and legal departments.

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