CTC files lawsuit against board member

By Chris Dziadul
November 10, 2009 07.13 UK

Russia’s CTC Media has filed a civil complaint against Alexander E. Rodnyansky, its former president and CEO and currently a non-executive member of the board of directors.

The complaint, submitted to several US courts, alleges that Rodnyansky has been involved in the business of one of CTC Media’s competitors in Russia.

CTC Media’s two leading shareholders Alfa CTC Holdings Ltd and MTG Russia AB have also said they are no longer willing to support his presence on the board. His resignation from the board will therefore come into effect on February 7, 2010.

CTC Media is one of the leading commercial broadcasters in Russia,