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Top Management Nominated at Unitech Wireless

Fornebu, 19 February 2009 - Stein-Erik Vellan, the CEO of Telenor Serbia, has been nominated for the position as Managing Director (MD) of Unitech Wireless in India.

The Managing Director is the company’s top executive position and is subject to approval from the Indian Department of Telecommunications. Subsequent to the closing of the Unitech Wireless agreement, Telenor will assume management control of the Indian mobile operator. Telenor will hold four out of seven seats on the Unitech Wireless Board of Directors.
 
During his two-and-a-half years in Serbia, Vellan has managed Telenor Serbia through an important transitional phase. The company delivered strong organic growth and good margins for the fourth quarter of 2008. Prior to his posting in Serbia, Stein-Erik Vellan was part of Telenor’s Nordic management, successfully heading the Norwegian business market division. The nominee for the position as Managing Director aims to bring with him two of his close team members from Serbia, as Kerstin Thulin, currently Chief Human Resources Officer, and David Meneghello, currently CMO, will also transfer to Unitech Wireless.
 
The nominated executives will take up their responsibilities in New Delhi following the closing of the transaction.