Net Element Hires Former CFO of Groupon Russia for TOT Group Russia


Net Element Hires Former CFO of Groupon Russia for TOT Group Russia

New CFO Irina Bukhanova is an Experienced Leader in Web, Mobile Banking and Big Data Environments

MIAMI--(BUSINESS WIRE)-- Net Element International (NAS: NETE) , a technology-driven group specializing in electronic commerce and mobile payment processing, today announced that Irina Bukhanova has been appointed the CFO of TOT Group Russia. Ms. Bukhanova is the former CFO of Groupon Russia and is an experienced leader in web, mobile banking and big data environments. She has held senior positions at several leading institutions including the Moscow Region Government, Svyaznoy Group, Rocket Bank, PO-Birulewski, and Ritzio International - all organizations that are directly relevant to the broad spectrum of companies operating under the Net Element umbrella.

Irina Bukhanova has worked with both small and large companies in the private and public arenas and her very recent employment with Svyaznoy Group, including her oversight and support of their start-up companies in the field of consumer research and big data, are well aligned to TOT Group's business model. Ms. Bukhanova's formal education includes advanced degrees from the Finance Academy under the Government of the Russian Federation with a Specialization in Financial Management as well as from the Moscow Credit College of the Moscow Department of Education with a Specialty in Banking.

Net Element's CEO, Oleg Firer, said, "I am pleased to welcome Irina Bukhanova as CFO of TOT Group Russia. Her global experience, especially in the consumer-centric mobile telecommerce industry, is specifically pertinent to TOT Money, our mobile payment gateway for Premium SMS and Mobile Commerce in emerging markets. Additionally, Ms. Bukhanova's tenure in the gaming and media field with Ritzio International will be very valuable as we execute our strategy of extending our entertainment programs internationally, with a particular focus on Russia and the CIS region."

"It is very clear that TOT Group is a company on the move in an industry that is exciting and dynamic," said Ms. Bukhanova, adding, "The recent announcement by Beeline that TOT Money has become their top ranking SMS content provider for two consecutive months - after debuting only six months earlier - is tangible evidence of their potential and prowess in this market. When you consider other complementary Net Element brands such as Unified Payments, it is easy to see how the different operating groups have synergistic business value."

About Net Element International (Nasdaq: NETE)

Net Element International (NAS: NETE) is a global technology-driven group specializing in electronic commerce, mobile payments and transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group, as well as several popular content monetization verticals. Together with its subsidiaries, Net Element International enables ecommerce and content-management companies to monetize their assets in ecommerce and mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element International or its business continues to grow. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element International and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element International's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element International's ability to successfully expand in existing markets and enter new markets; (iv) Net Element International's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element International's business; (viii) changes in government licensing and regulation that may adversely affect Net Element International's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element International's business; (x) Net Element International's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element International with the Securities and Exchange Commission. Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element International assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

Net Element
Dan Bruck, 305-507-8808

KEYWORDS: United States North America Florida


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