VEON announces director Mariano de Beer to step down

Rhea-AI Summary

VEON Ltd. announced that Mariano de Beer has stepped down from its Board of Directors effective December 21, 2020. De Beer, who also chaired the Digital Committee, is leaving to focus on other commitments. The company expresses gratitude for his contributions. A search for his replacement is currently in progress. This change occurs amid the company's ongoing efforts to enhance its governance and operational strategies.

Positive

• Appreciation for Mariano de Beer's contributions indicated strong governance culture.
• Ongoing search for a replacement suggests proactive management of board composition.

Negative

• Leadership transition may introduce temporary instability in strategic direction.

AMSTERDAM, Dec. 21, 2020 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announced that Mariano de Beer is stepping down as a director of the VEON Board of Directors (the "Board"), effective 21^st December 2020. Mr. de Beer, who also chaired VEON's Digital Committee, will be focusing on other commitments. 

"The Board would like to thank Mariano for his valuable insight and contributions to the Board and the company," said Gennady Gazin, Chairman of the Board.

A search is currently underway to find a replacement for Mr. de Beer.

Disclaimer

This press 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, expectations regarding management plans and the ability to successfully execute operating model, governance and development plans. 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 date or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, "inside information" as defined under the Market Abuse Regulation (EU) No. 596/2014.

INVESTOR RELATIONS
Nik Kershaw
ir@veon.com 
Tel.: +31-20-79-77-200

View original content:http://www.prnewswire.com/news-releases/veon-announces-director-mariano-de-beer-to-step-down-301196421.html

SOURCE VEON Ltd

FAQ

Why did Mariano de Beer step down from VEON's Board?

Mariano de Beer stepped down to focus on other commitments.

When did Mariano de Beer resign from VEON's Board?

Mariano de Beer resigned effective December 21, 2020.

What position did Mariano de Beer hold at VEON?

He was a director and chaired the Digital Committee.

Is VEON looking for a new Board member after de Beer's resignation?

Yes, VEON is currently conducting a search for a replacement.