Mr. Mikhail Shamolin graduated from the Russian Academy of Government Service under the President of the Russian Federation in 1993. From 1996 to 1997, he studied at Wharton Business School, where he completed a finance and management course for top-managers. Mr. Shamolin was the President and CEO of Mobile TeleSystems Group (MTS), Moscow from May 2008 till March 2011.

Prior to this role, Mr. Shamolin has held the position of Vice President, Head of MTS Russia from August 2006. In this capacity, Mr. Shamolin managed the largest MTS business unit, one which contributes roughly 75% of value to MTS. Mr. Shamolin joined MTS in July 2005 as Vice President, Sales and Customer Service and has been a member of the MTS Board of Directors since October 2008.

Prior to joining MTS, Mr. Shamolin worked at McKinsey & Co. from 1998 to 2004. In 2004 and 2005 he worked at Interpipe Corp. (Ukraine) as Managing Director of the Ferroalloys Division. Mr. Shamolin has been appointed as President of Sistema JSFC from March 10, 2011.