Change of CEO at Romtelecom

Romtelecom informs that, starting with February 1, 2007, dl. James Hubley will not hold the CEO of Romtelecom position, as both parties agreed.

On behalf of its shareholders, Romtelecom wants to express our recognition for Mr. Hubley’s decisive contribution both in efficient transformation of Romtelecom in a modern telecommunication operator, and successful company financially speaking, which is well positioned for the future.

Mr. Hubley will be replaced by Mr. Yorgos Ioannidis, who recently was the CEO of OTENET (from June 2000) and OTE Technical Executive Director (from September 2004). Moreover, Mr. Ioannidis is a member of the administration council of several companies from OTE Group (including Romtelecom, from July 2006).

Mr. Ioannidis started his career in 1975, within OTE, where he activated as telecommunication engineer. He held different position on maintenance, planning, and telematic departments. In 1993, he left OTE for Vodafone Greece, as Commutation and Software Technology Manager. In 1998, he took over the Technological position within Cosmote, after which he was Technical Executive Director of Cosmote.

Yorgos Ioannidis was born in Istanbul, in 1950. In 1973, he graduated Bosfor University from Istanbul, as electronics engineer. In 1975 he obtained a Master of Arts degree within Lowell Technology Institute (today, University from Massachusetts), Lowell, Massachusetts, SUA.