Ucom Appoints New Director

The Armenian telecommunications company Ucom has a new director. In this regard, the company has released a statement, which particularly mentions:

“On April 14, based on the resignation application submitted by the former director, an urgent meeting of the Board of Directors was convened, where, among other issues, the appointment of a new director was confirmed. The new CEO is Ara Sergey Khachatryan, who officially joined the Ucom team as a member of the Board of Directors on December 25, 2019.

The professional biography is presented below. It should be noted that all members of the Board of Directors were present at the April 14 meeting; however, Alexander Yesayan stated that he considers the meeting as a discussion and does not participate in the meeting, which has also been recorded in the minutes (the excerpt from the minutes is attached below).

The Board of Directors of Ucom considers it important to emphasize that according to the company’s corporate documents, the appointment and dismissal of the CEO is decided by the Board of Directors.

Based on the application of the former director, the board has appointed Ara Sergey Khachatryan as the new director, who assumes his duties from the time of appointment, starting April 14 of this year. In accordance with the legislation of the Republic of Armenia, the only authorized representative of Ucom is the new CEO Ara Khachatryan and individuals authorized by him.

The new director will provide information regarding the ongoing processes of the company (with the exception of matters within the jurisdiction of the Board of Directors and the general assembly, which, as in this case, can also be represented by a member of the appropriate body),” the statement reads.

Ara Sergey Khachatryan
CEO of Ucom
Professional Biography
Education
He graduated from Yerevan State University with a Bachelor's degree in Economics. He obtained his Master's degree from the London Business School in the United Kingdom and Columbia Business School in New York, USA (MBA). He has professional qualifications from international financial and management institutes.

Work Experience
He has worked in key positions at PWC, Baker Tilly, and Path international consulting firms, and in recent years at the Galaxy group of companies. He teaches at the American University of Armenia and is a member of the advisory body of the university's continuing education programs. He is married and has one child,” the company's statement concludes.