Mohammad Khairil Abdullah joins the VEON leadership team as CEO of VEON Ventures

Rhea-AI Summary

VEON Ltd. has announced the appointment of Mohammad Khairil Abdullah as the new CEO of VEON Ventures, effective March 1, 2022. Khairil, previously the CEO of Axiata Digital Services, brings significant experience in digital businesses, including data, AI, and fintech. His leadership is expected to enhance VEON's digital ventures, including JazzCash and Toffee, while focusing on delivering shareholder value. VEON aims to leverage Khairil's expertise to accelerate growth and synergy across its operations in emerging markets.

Positive

• Appointment of a seasoned leader to enhance digital ventures.
• Khairil's background in digital services and venture capital provides a fresh perspective.
• Focus on accelerating growth in key areas like JazzCash and Toffee.

Negative

• Concerns about continuity and leadership experience may arise due to a change in executive management.

AMSTERDAM, Dec. 29, 2021 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces Mohammad Khairil Abdullah will join the VEON Group as Chief Executive Officer of VEON Ventures.

Khairil is currently with the Axiata Group, a leading mobile operator in South-East Asia. As CEO of Axiata Digital Services, he built and operated successful digital businesses in data, artificial intelligence, fintech and system integration, while securing attractive venture capital opportunities and relevant external funding. Prior to arriving at Axiata in 2012 as Group Chief Marketing and Operations Officer, Khairil was at Bain & Company for 15 years, becoming its telco practice managing partner for South-East Asia.

"I am pleased to welcome Khairil as our Ventures CEO. He brings world class experience and expertise to a key area for VEON's success", said Gennady Gazin, VEON's Chairman. "With Khairil at the helm we will accelerate our focus on digital ventures, pushing JazzCash, Toffee and ShopUp to the next level, as well as other great initiatives in Ukraine, Kazakhstan and across VEON's footprint. Khairil and his team will continue to focus on our key mission: deliver strong shareholder value by building and monetizing outstanding assets."

"Ventures is one of our three main vectors of growth and value generation we presented at our Investor Day", said Kaan Terzioğlu, VEON's Chief Executive Officer. "Khairil will contribute to the success of our Group ambitions with his deep expertise in growing and developing digital assets, in combination with a profound knowledge of telcos, exploiting all related cross-synergies while pursuing high-growth opportunities with the flexibility offered by a dedicated company."

Khairil's new appointment will be effective from March 1^st, 2022. He will be based in Amsterdam, jointly with the Group leadership team.

About VEON   
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. For more information, visit: https://www.veon.com   

Disclaimer   
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, the potential benefits of the appointment and business initiatives described above. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. 

Contact Information

Marina Levina
Group Communications Director
pr@veon.com

Nik Kershaw
Group Investor Relations Director
ir@veon.com 
Tel: +31 20 79 77 200 

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SOURCE VEON Ltd

FAQ

Who is Mohammad Khairil Abdullah in relation to VEON?

Mohammad Khairil Abdullah is appointed as the CEO of VEON Ventures, effective March 1, 2022.

What is the expected impact of Khairil's appointment on VEON?

His expertise in digital businesses is expected to accelerate growth and enhance shareholder value across VEON's ventures.

What companies will Khairil focus on at VEON?

Khairil will focus on enhancing digital ventures such as JazzCash, Toffee, and ShopUp.

What prior experience does Khairil have before joining VEON?

Before VEON, Khairil was the CEO of Axiata Digital Services and has 15 years of experience at Bain & Company.