Change at the top for ProfMedia

Russia’s ProfMedia has decided to appoint Vladimir Riabokon as its new president.

He will replace Rafael Akopov, whose contract with the company expires in January and will not be renewed.

Akopov has been with ProfMedia since 2004, during which time it has been transform it into one of the leading media entertainment companies in the country, its interests including the TV channels TV3, MTV and 2×2.

However, its net loss in 2011 increased by over 50% to R4.6 billion (€114.2 million).

Riabokon was most recently the VP at VimpelCom.