VEON appoints Group Head of Internal Audit

Rhea-AI Summary

VEON Ltd. has appointed Jagan Mohan as the new Group Head of Internal Audit, effective 1st May 2023. Mohan, previously the Group Director of Internal Audit, brings 25 years of experience across various industries, including telecoms and FMCG. This appointment coincides with the transition of Joop Brakenhoff to the role of Group Chief Financial Officer, also effective on the same date. Mohan will report to Kaan Terzioglu, Group CEO, and Michiel Soeting, Chairman of the Audit and Risk Committee. The changes aim to enhance governance standards and improve operations through an effective internal audit function.

Positive

• Jagan Mohan's extensive 25 years of experience in various industries will strengthen internal audit operations.
• The leadership changes may improve governance standards and operational efficiencies within VEON.

Negative

• None.

Jagan Mohan to join VEON’s Leadership Team in his new role following the Group’s CFO transition

Amsterdam, 24 April 2023 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces it has appointed Jagan Mohan, its current Group Director of Internal Audit, as the Group Head of Internal Audit, effective 1^st May. This complements the Group Chief Financial Officer transition where Joop Brakenhoff, currently VEON’s current Chief Internal Audit and Ethics & Compliance Officer, will assume the role of Group Chief Financial Officer also on 1^st May 2023.

In this new role, Jagan Mohan will report functionally to Michiel Soeting, the Chairman of VEON’s Audit and Risk Committee, and operationally to Kaan Terzioglu, our Group CEO. 

Jagan comes into this role with 25 years of experience in external and internal audit across various industries, including telecoms, FMCG, hospitality and real estate, and across various geographies. He has been with VEON since February 2019, and worked extensively with Joop Brakenhoff and VEON’s internal audit teams across the Group to develop and execute VEON’s audit strategy.

“Protecting value is as central to our operations as creating value for all our stakeholders and our internal audit function has an indispensable role in this. We are very pleased to welcome Jagan to the Leadership Team. I look forward to continuing to work with him in his new role, constantly improving our governance standards and operations with the support of our internal audit function.” said Kaan Terzioglu, VEON Group CEO.

About VEON

VEON is a global digital operator that currently provides converged connectivity and online services to nearly 160 million customers in six dynamic markets. We are transforming people’s lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 8% of the world’s population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. 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 closing of the transactions 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. There can be no assurance that the initiatives referred to above will be successful.

Contact information

For VEON:
Anna Ivanova-Galitsina
pr@veon.com

For TUVA:
Julian Tanner
Julian.tanner@tuvapartners.com

FAQ

What is the recent management change at VEON?

VEON appointed Jagan Mohan as the Group Head of Internal Audit, effective 1st May 2023, while Joop Brakenhoff transitions to Group CFO.

What experience does Jagan Mohan bring to VEON?

Jagan Mohan has 25 years of experience in internal and external audit across telecoms, FMCG, hospitality, and real estate sectors.

Who will report to whom in the new management structure at VEON?

Jagan Mohan will report functionally to Michiel Soeting, Chairman of the Audit and Risk Committee, and operationally to Kaan Terzioglu, Group CEO.

What is the expected impact of the leadership changes on VEON?

The changes are expected to enhance governance standards and improve internal audit functions, potentially benefiting shareholders.