VEON Shareholders Re-elect Board and Chairman, Reaffirming Confidence in Digital Growth Strategy
Rhea-AI Summary
VEON (Nasdaq: VEON) shareholders re-elected all seven directors at the May 11, 2026 AGM and the Board re-elected founder Augie K Fabela II as Chairman for a third term.
VEON reported FY25 revenue of USD 4.4 billion (+9.9% YoY) and EBITDA of USD 2.0 billion (+18.8% YoY) with a 45.7% margin. Direct digital revenue grew 62.5% YoY to USD 759 million, reaching 20.1% of 4Q25 revenue as active digital customers rose to 205.8 million. A capital allocation policy targets returning at least USD 100 million annually, following a USD 100 million buyback authorized in November 2025. Around 99.55% of shares were represented, and shareholders re-appointed UHY LLP as auditor for FY26.
Positive
- FY25 revenue of USD 4.4 billion, up 9.9% year-on-year
- FY25 EBITDA of USD 2.0 billion, up 18.8% YoY with 45.7% margin
- Direct digital revenues grew 62.5% YoY to USD 759 million in FY25
- Digital revenues reached 20.1% of total revenue in 4Q25
- Active 3‑month digital service customers reached 205.8 million
- Capital allocation policy targets at least USD 100 million annual shareholder returns
- USD 100 million share buyback program authorized in November 2025
- Approximately 99.55% of VEON shares represented at the AGM
- Board and Chairman re-elected, providing leadership continuity
Negative
- None.
News Market Reaction – VEON
On the day this news was published, VEON gained 1.07%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 06 | Starlink resell deal | Positive | -0.0% | Kyivstar authorized to resell Starlink broadband services and hardware in Ukraine. |
| Apr 29 | Ukraine investment pledge | Positive | -2.8% | VEON and Kyivstar exceed USD 1.0 billion Ukraine investment commitment ahead of schedule. |
| Apr 24 | ADS fee waiver, buybacks | Positive | -3.2% | BNY Mellon waives ADS fees and VEON targets at least USD 100 million annual buybacks. |
| Apr 23 | 2025 report, digital growth | Positive | -0.4% | Integrated Report shows revenue and EBITDA growth plus rapid expansion in digital users and revenues. |
| Apr 22 | Banglalink–Starlink deal | Positive | +3.6% | Banglalink signs to integrate Starlink Mobile direct-to-device satellite connectivity in Bangladesh. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent history shows VEON often trading lower on otherwise positive strategic and financial updates, with only one of the last five news events seeing a clearly positive next-day reaction.
Over the last few months, VEON reported multiple positive developments: Starlink-related connectivity deals in Ukraine and Bangladesh, fulfillment of a USD 1.0 billion Ukraine investment pledge, reduced ADS fees plus a buyback-focused capital policy, and a 2025 Integrated Annual Report showing revenue up 9.9% and EBITDA up 18.8%. Despite these, shares often reacted flat-to-negative, making today’s supportive governance and strategy vote consistent with a story of improving fundamentals but uneven short-term price responses.
Key Terms
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Dubai and New York, May 11, 2026: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), today held its online Annual General Meeting (AGM). During the AGM, the Company’s shareholders re-elected the slate of VEON’s seven current directors to continue serving as the Company’s Board of Directors (the “Board”).
VEON welcomes back its founder Augie K Fabela II, Andrei Gusev, Rt. Hon. Sir Brandon Lewis CBE, Duncan Perry, 70th U.S. Secretary of State Michael R. Pompeo, Michiel Soeting and VEON Group CEO Kaan Terzioglu to the Board. Following the AGM, the new Board held its inaugural meeting, and re-elected VEON’s Founder Augie K Fabela II as the Chairman for a third term.
VEON’s Board of Directors. From left to right: 70th U.S. Secretary of State Michael R. Pompeo, Michiel Soeting, Augie K Fabela II, VEON Group CEO Kaan Terzioglu, Duncan Perry, Andrei Gusev, Rt. Hon. Sir Brandon Lewis CBE
The re-election reflects continued shareholder support for VEON’s strategy of digital services growth, operational discipline and shareholder returns.
“I am honored to be elected for a third term and to continue serving alongside our distinguished directors. VEON has demonstrated strong execution and strategic clarity as we expand our digital operator model across high-growth frontier markets,” said Augie K Fabela II. “Our focus on empowering customers with AI-powered tools, digital financial services and disciplined capital allocation, reinforced by VEON’s newly adopted share buyback policy, positions VEON for sustained long-term value creation. On behalf of the Board, I thank our shareholders for their continued support.”
VEON’s capital allocation policy targets the return of at least USD 100 million to shareholders annually, building on the USD 100 million buyback program authorized in November 2025. VEON delivered total revenue of USD 4.4 billion in FY25, up
Holders of approximately
The profiles of VEON’s Board directors can be found on the Company’s website: https://www.veon.com/we-are-veon/board-and-governance.
About VEON
VEON is Nasdaq-listed digital operator that provides connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
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, including in relation to VEON’s strategy, shareholder returns and capital allocation policy.
VEON media contact
pr@veon.com
