CTC Media replaces CEO

Anton Kudryashov, chief executive of Russian broadcast group CTC Media has left the company and has been replaced by the company’s chief financial officer.

Kudryashov stepped down, based on “mutual agreement” and has been replaced on an interim basis by Boris Podolsky. Kudryashov has been chief executive of the broadcaster since 2008.

This comes as CTC Media has made a number of changes to its board of directors. Former Eurosport chief executive Angelo Codignoni has been appointed as co-chairman of the board and banking executive Dmitry Lebedev has replaced Peter Aven on the board.

“Anton has handed over his responsibilities to Boris and we have initiated a search to recruit a permanent successor in the CEO role, as the Company moves forward into the next phase of its development,” said Hans-Holger Albrecht, co-chairman of CTC Media and president and chief executive of CTC owner Modern Times Group. “The board is delighted that Angelo has agreed to become Co-Chairman of the Company, and I look forward to continuing to work closely with him to develop the CTC Media business. We also welcome Dmitry as a new member of the Board. He has deep business experience and knowledge of the Russian market, as well as a successful track record, which will contribute to our work moving forward.”