MOSCOW — Modern Times Group, the Stockholm-based broadcaster that runs a range of television operations across 36 countries, including Russia’s top commercial network CTC Media, announced the appointment of an internal candidate as CEO and group prexy Tuesday.
Jorgen Madsen, a member of MTG’s executive management team since 2000 and executive VP of its Nordic broadcasting operations since October last year, will take over from Hans-Holger Albrecht mid-September.
Albrecht is resigning to become prexy and CEO of global telecoms group Millicom International Cellular.
David Chance, MTG’s board chairman, said that in the 12 years of Albrecht’s leadership MTG’s sales had tripled to nearly $2 billion.
Chance said Albrecht had been one of the longest-serving and most successful CEOs in the industry.
Madsen said he looked forward to continuing MTG’s “strong culture and tradition of constant innovation,” and would focus on further improving content, embracing new technologies and expanding into new markets.