VEON appoints Burak Ozer as Group CFO, succeeding Joop Brakenhoff, effective January 9, 2025.
Quiver AI Summary
VEON Ltd. has announced the appointment of Burak Ozer as the Group Chief Financial Officer, effective January 9, 2025, succeeding Joop Brakenhoff, who will remain with the company as an advisor to the CEO. Burak Ozer brings over 27 years of international finance experience, having previously held significant positions at Xerox and most recently serving as CFO in the digital transformation and cybersecurity sectors. VEON's CEO Kaan Terzioglu expressed his confidence in Ozer's leadership and expertise, particularly as the company focuses on growth in frontier markets. Ozer is eager to contribute to VEON's financial governance and support the evolution of its diverse digital services. VEON operates in six countries and serves nearly 160 million customers.
Potential Positives
- Burak Ozer's appointment as Group CFO signifies a strategic move to enhance VEON's financial governance during a pivotal growth phase.
- Ozer brings over 27 years of extensive international finance experience which is expected to strengthen the company's position in frontier markets.
- The leadership change reflects VEON's commitment to innovation and adaptation in diverse sectors including connectivity, financial services, and healthcare.
Potential Negatives
- The press release indicates a significant leadership change with the appointment of a new CFO, which can create uncertainty and concern among investors and stakeholders regarding the company's direction and stability.
- While the release mentions growth and innovation, it lacks specific details on the challenges VEON may face during this transition, potentially leading to skepticism about the company’s strategic direction.
- The reliance on "forward-looking statements" suggests that the company may be dealing with uncertainties regarding its future performance and market conditions, which could impact investor confidence.
FAQ
Who has been appointed as the new Group CFO of VEON?
Burak Ozer has been appointed as the new Group Chief Financial Officer of VEON, effective 9 January 2025.
What experience does Burak Ozer bring to VEON?
Burak Ozer has over 27 years of international experience in finance, including key positions at Xerox and global digital transformation roles.
What will happen to the previous CFO, Joop Brakenhoff?
Joop Brakenhoff will continue with VEON as an Advisor to the Group CEO after his tenure as CFO.
How does VEON describe its business operations?
VEON provides converged connectivity and digital services to nearly 160 million customers across six countries, focusing on technology-driven services.
What is VEON’s presence in the global market?
VEON operates in six countries that are home to over 7% of the world's population, emphasizing growth and innovation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VEON Hedge Fund Activity
We have seen 22 institutional investors add shares of $VEON stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LINGOTTO INVESTMENT MANAGEMENT LLP added 193,142 shares (+3.6%) to their portfolio in Q3 2024
- HELIKON INVESTMENTS LTD added 49,680 shares (+1.8%) to their portfolio in Q3 2024
- SAMSON ROCK CAPITAL LLP added 30,000 shares (+inf%) to their portfolio in Q3 2024
- CITIGROUP INC added 29,350 shares (+13.4%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 22,213 shares (+58.4%) to their portfolio in Q3 2024
- TWO SIGMA INVESTMENTS, LP added 17,157 shares (+85.6%) to their portfolio in Q3 2024
- DIAMETRIC CAPITAL, LP added 12,758 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Dubai, 9 January 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Group”), today announces the appointment of Burak Ozer as Group Chief Financial Officer (Group CFO), effective 9 January 2025. Burak will succeed Joop Brakenhoff, who will continue to serve VEON as an Advisor to the Group CEO.
Burak brings over 27 years of extensive international experience within the finance sector. Burak started his career with Xerox where he held a number of key financial positions in the USA and the UK in addition to serving as the General Manager of Xerox Turkey. More recently Burak has held the position of Chief Financial Officer within the global Digital Transformation, IT Solutions & Cybersecurity space.
Commenting on the appointment, VEON Group CEO Kaan Terzioglu said: “I warmly welcome Burak to the VEON Leadership Team. His vast international experience and proven track record will be invaluable to VEON as we re-align our positioning to the exciting frontier markets that we serve. I would also like to thank Joop and express my gratitude for his many years of service to VEON. We look forward to working with him in his advisory capacity, where he will continue to serve VEON with his valuable expertise.”
Burak Ozer said : “I am excited to join VEON as the Group Chief Financial Officer at a pivotal moment of growth and innovation for the company. I look forward to being a part of the team that will continue to drive VEON’s growth, ensuring a robust financial position with strong financial governance as VEON evolves to serve some of the world’s most exciting markets with connectivity, financial services, entertainment, education, healthcare and more.”
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information
visit:
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, VEON’s corporate strategy, growth expectations and management structure. 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. 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.
Contact Information
Hande Asik
Group Director of Communications
[email protected]