VEON shareholders re-elect board and chairman for third term

VEON Ltd. (NASDAQ: VEON) shareholders re-elected all seven current directors to the company's board during the annual general meeting held May 11. The board subsequently re-elected founder Augie K Fabela II as chairman for a third term.

The re-elected directors include Fabela, Andrei Gusev, Rt. Hon. Sir Brandon Lewis CBE, Duncan Perry, former U.S. Secretary of State Michael R. Pompeo, Michiel Soeting, and VEON Group CEO Kaan Terzioglu.

Holders of approximately 99.55% of VEON shares were represented at the meeting. Shareholders also approved the re-appointment of UHY LLP as external auditor for the financial year ending December 31, 2026.

"I am honored to be elected for a third term and to continue serving alongside our distinguished directors," Fabela said. The company focuses on AI-powered tools, digital financial services, and capital allocation supported by a share buyback policy.

VEON reported total revenue of $4.4 billion in fiscal year 2025, representing a 9.9% year-over-year increase. EBITDA reached $2.0 billion, up 18.8% year-over-year, with EBITDA margin expanding to 45.7%. Direct digital revenues grew 62.5% year-over-year to $759 million.

In the fourth quarter of 2025, digital revenues comprised 20.1% of total revenue. The company's 3-month active digital service customers reached 205.8 million, surpassing connectivity subscribers for the first time.

VEON's capital allocation policy targets returning at least $100 million to shareholders annually, building on a $100 million buyback program authorized in November 2025. The digital operator serves nearly 160 million customers across six countries.

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