Mr. Mikhail Shamolin

Non-Executive Director

Mikhail Shamolin was appointed President of Sistema in March 2011. Prior to his current role, Mr. Shamolin was the President and Chief Executive Officer (CEO) of the MTS Group. He held the position of Vice President, Head of Business Unit “MTS Russia” from August 2006 to May 2008. In this capacity, Mr. Shamolin managed the largest MTS business unit, one which contributes roughly 75% of value to the Company. During his tenure, revenues grew 67% and operating efficiency improved considerably as Mr. Shamolin presided over sustained growth in voice usage and adoption of value-added services, both of which led to an over 50% rise in average revenue per user (ARPU). Mr. Shamolin joined MTS in July 2005 as Vice President for Sales and Customer Service. He serves as a member of the MTS Board of Directors since October 2008.

Prior to joining MTS, Mr. Shamolin worked at McKinsey & Co. from 1998 to 2004. In 2004 and 2005, he worked at Interpipe Corp. (Ukraine) as Managing Director of the Ferroalloys Division.

Mr. Shamolin graduated from the Russian Academy of Government Service under the President of the Russian Federation in 1993. From 1996 to 1997, he completed a finance and management course for top managers at the Wharton Business School.