OREANDA-NEWS. October 26, 2011. "Hereby Epic announces that the phase of Ukrtelecom acquisition was successfully completed. Today we start the next phase of development  - deep and fundamental restructuring. There are many tasks to be resolved. Sustainability and durability in traditional fixed telephony, defining main targets for new investments, management restructuring, analysis and optimization in all expenses, real-estate effective management, divestiture from all unprofitable business lines, etc. to name a few.

Peter Goldscheider has asked George Dzekon to focus on strategic issues and free up his time from operational control. In order to facilitate  this George will be promoted  to the Supervisory board . To replace Mr. Dzekon in daily operations Epic has begun to search for new CEO. Also Peter Goldscheider made an offer to Leonid Netudihata to take the postion of deputy CEO overseeing all fixed line network operations. Mr. Goldscheider got acquainted with Mr. Netudihata in 1998 and since  then they maintained the communication between each other.  Ukrtelecom runs a vast fixed - line network and the majority of the human resources are employed in this segment. With 30+ years of experience Mr. Netudihata gained in traditional telephony operations he might provide very quickly and efficently needed optimization in expenses and sustainability.

The main goal for Epic stays the same: within 2-3 years Ukrtelecom should become a profitable publicly quoted company."