LONDON, UK / ACCESSWIRE / September 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for VEON Ltd (NASDAQ: VEON), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=VEON. The Company announced on September 15, 2017, that Trond Westlie would join VEON as Group Chief Financial Officer (CFO). In line with this announcement, the present Group CFO, Andrew Davies, has decided to step down from his role after successfully carrying out thoughtful transformation for the Company. Davies would, however, continue to be an active member of the senior management team until the end of 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Trond Westlie's Past Experience

It has been decided that Westlie will join VEON on 02 October 2017, and take up his official duties as the Group CFO after the announcement of the Q3 2017 results on November 09, 2017.

Prior to this, Westlie served as the CFO of AP Moller-Maersk from 2010 to 2016 and CFO of Telenor from 2005 to 2009. He also served as a member of the VEON Supervisory Board and as Chairman of its Audit Committee between July 2014 and August 2016. His hard work and dedication over the years has given him the reputation of a highly respected and experienced financial executive.

Andrew Davies's Contribution to VEON

Davies joined VEON in November 2013. Since then, he has been instrumental in driving VEON's transformation journey. He led the Wind Tre (Italy) transaction and handled the restructuring of the Company's capital structure. Moreover, he played a critical role in VEON's agreements with the US and Dutch authorities in February 2016.

Davies has decided to stay with the Company till the end of the year to ensure a structured handover. Post that, he will continue as a Board member of the Wind Tre joint venture.

VEON to Benefit from Westlie's Experience

Jean-Yves Charlier, Chief Executive Officer (CEO) of VEON, shared his views on the new appointment. He expects that Westlie would bring remarkable experience to the Company. VEON would benefit from Westlie's learning and experience from his role at Maersk and Telenor. Westlie would play an important role in executing VEON's transformation, mainly around the digital and cash flow growth initiatives.

Charlier also acknowledged Davies' contributions to VEON over the years. He particularly thanked Davies for his leadership, integrity, and commitment over the past four years. Moreover, Charlier stated that Davies has made a significant contribution towards making VEON a revitalized business, which is now producing strong free cash flow with a stable and appropriate capital structure.

Comments from Trond Westlie

Westlie expressed his excitement on joining VEON. He is aware that the Company operates in one of the most thrilling communications markets in the world. He believes that VEON's foundations are well in place and this will help drive digital growth and efficiencies going forward. Furthermore, Westlie is looking forward to working with Charlier and the rest of the senior management team to capitalize on VEON's unique growth opportunities.

Comments from Andrew Davies

Davies highlighted that it was a privilege for him to be part of the team that has helped transform VEON from the Company it was four years ago, to where it is today. VEON is now at a more stable footing, with a strong free cash flow generation, a strong capital structure, and a considerable dividend payout. He is positive that the Company would continue to progress on its digital transformation and cash flow growth strategy in the years ahead.

About VEON Ltd

VEON is a global leader in the Connectivity and Internet Services industry. The Company is headquartered in Amsterdam and is currently serving over 235 million customers worldwide. VEON aims to lead the personal Internet revolution for its existing, as well as new customers in the years to come.

Last Close Stock Review

At the closing bell, on Friday, September 15, 2017, VEON's stock marginally slipped 0.91%, ending the trading session at $4.36. A total volume of 7.93 million shares have exchanged hands, which was higher than the 3-month average volume of 2.77 million shares. The Company's stock price rallied 15.65% in the last three months, 6.34% in the past six months, and 20.11% in the previous twelve months. Moreover, the stock surged 13.25% since the start of the year. The stock has a dividend yield of 7.80% and currently has a market cap of $7.83 billion.

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