Sergei Herrero stepping down as co-ceo of Veon Group, Terzioglu will be the only CEO

VEON Ltd. a leading global provider of connectivity and internet services to 212 million customers, in developing countries,today announced that Co-Chief Executive Officer Sergi Herrero, who joined the company in September 2019, will be stepping down as co-CEO effective June 30, 2021. Sergi is expected to continue advising the company, in particular with respect to the VEON Ventures businesses which focus on generating value in high growth areas. Kaan Terzioğlu will be the sole CEO.

Sergi commented: “It has been a pleasure working as co-CEO of the company, with the support of the Board, particularly in developing new growth areas for the business. I look forward to remaining actively engaged with VEON as it continues to build value in Pakistan, Bangladesh, Russia, Ukraine and elsewhere.”

Kaan Terzioglu will continue in his role as CEO of VEON Ltd. with overall responsibility for corporate matters and the general operations of the group.

Chairman of the Board, Gennady Gazin commented: “Sergi has done an excellent job developing our ventures business and the team leading it. VEON remains fully committed to building new digital businesses. Our markets of operation present tremendous opportunities in areas such as mobile financial services and digital content and capitalizing on this is a top priority for VEON.”

Veon is one of the telecom companies, Russian billionaire Mikhail Fridman owners. Fridman also has the second biggest stake in Turkcell, the leading mobile telecommunication conglomerate after the Turkish Wealth Fund. through his IMTIS Holding investment, where Kaan Terzioglu served as CEO prior to joining Veon Group.