TCS Group Holding PLC has announced the appointment of Oliver Hughes and Pavel Fedorov as Co-directors (Co-CEOs) of the company. Pavel Fedorov will join Oliver Hughes, who has been successfully heading the Company for more than 15 years and, as before, enthusiastically focused on taking the company to new horizons of development, as co-CEO. In recent months, Pavel, who currently holds the position of a member of the Board of Directors of TCS Group Holding PLC, has been advising the company on international development issues. Prior to that, Pavel worked for a long time at Morgan Stanley investment bank, in the group for working with companies in the telecommunications, media and technology industries in the London and then in the Moscow office, having spent a total of 13 years in the banking industry. The last ten years (with a break for a year in 2012, during which he held the position of Deputy Minister of Energy of the Russian Federation) Pavel worked in the resource industries, in the companies Norilsk Nickel and Rosneft traded on the London Stock Exchange. This step will significantly strengthen the management structure of a dynamically developing company, and the two co-CEOs will work in tandem, using complementary knowledge and skills to successfully realize the opportunities open to the company in Russia and in foreign markets. Strengthening the resources of the management team will be favorable, first of all, for the Russian business of the company, skillfully managed by another 15-year veteran of the company, Chairman of the Board of Tinkoff Bank Stanislav Bliznyuk. The appointments will take effect from December 1, 2021.