10 Aug 2016
VimpelCom shareholders elect Supervisory Board and strengthen digital leadership
Amsterdam (10 August 2016) - VimpelCom Ltd. (NASDAQ: VIP), a leading global provider of telecommunications and digital services headquartered in Amsterdam and serving over 200 million customers, announces the election of its Supervisory Board members during its Annual General Meeting of Shareholders (AGM), which was held in Amsterdam.
The Company’s shareholders elected Mikhail Fridman, Gennady Gazin, Andrei Gusev, Gunnar Holt, Sir Julian Horn-Smith, Nils Katla, and Alexey Reznikovich, together with newly elected Supervisory Board members, Stan Chudnovsky and Jørn P. Jensen. The new appointments bring added expertise in technology, digital entrepreneurship, and international corporate leadership to the Board, and support VimpelCom’s ambition to be a leader in digital innovation across the markets it serves.
Stan Chudnovsky is Head of Product for Messaging at Facebook. Before joining Facebook, Mr. Chudnovsky was Vice President of Growth, Global Strategy and Special Operations at PayPal after a company he co-founded, IronPearl, was acquired. Prior to this, Mr. Chudnovsky was involved in the establishment of Tickle Inc., one of the first social media companies, and grew it to become one of the largest websites in the world by 2003.
Mr. Chudnovsky has a strong background as an entrepreneur, having co-founded several other successful internet companies including Jiff, NFX, Ooga Labs, and Wonderhill. He has served on a number of corporate boards, including Goodreads and Zinch. Originally from Moscow, Mr. Chudnovsky earned engineering degrees in Russia and has been living in the San Francisco Bay Area since 1994.
Jørn P. Jensen brings significant board-level experience to the table, having been a Director of Danske Bank A/S since March 2012 and having previously held senior roles, including Deputy Chief Executive Officer and Group Chief Financial Officer, at Carlsberg between 2000 and 2015.
Mr. Jensen has served as a Member of the Committee on Corporate Governance in Denmark since 2012, and has previously served on a number of corporate boards, including DONG Energy A/S (2010 to 2015), Brightpoint Inc., Lauritzen Fonden/Vesterhavet A/S, and Royal Scandinavia A/S. Mr. Jensen received a Bachelor of Science in Economics from Copenhagen Business School in 1986, and a Master of Science in Economics and Business Administration from Copenhagen Business School in 1988.
Commenting on the appointments, Alexey Reznikovich, Chairman of VimpelCom’s Supervisory Board, said: “We are extremely honored to have brought the expertise and knowledge of both Mr. Chudnovsky and Mr. Jensen to VimpelCom’s Supervisory Board. Mr. Chudnovsky has a long history in developing and nurturing new and successful digital businesses, and in working in the social networking space with some of the strongest and fastest growing brands in the industry. He will be a huge asset as VimpelCom transforms into a digital leader. Mr. Jensen will strengthen VimpelCom’s Supervisory Board with his extensive experience in senior positions and boards, as well as corporate governance. Together, we look forward to supporting VimpelCom as it delivers on one of the industry’s most profound business and cultural transformations.”
The reappointment of PricewaterhouseCoopers Accountants NV as the Company’s auditor was also approved. Holders of approximately 93.0% of the Company's shares were represented at the AGM.
For more information about the Company’s Supervisory Board and related biographies, please see www.vimpelcom.com/Profile/Leadership/Supervisory-board/. Members of the Supervisory Board are elected to serve until the next AGM to be held in 2017 (unless the director is removed from office or the director’s office is vacated in accordance with the bye-laws).
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services, with the ambition to lead the personal internet revolution for over 235 million customers it currently serves, and many others in the years to come.
Follow us on Twitter @veondigital, visit our blog blog.veon.com or go to our website www.veon.com.
VEON considers portions of this press release to contain "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 can be identified by the use of words such as "may", "will", "plan", "should", "expect", "anticipate", "estimate", "continue" or comparable terminology and include statements relating to, among other things, the development of VEON’s compliance function. 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. Although VEON believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements as a result of risks and uncertainties. The 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. Furthermore, elements of this release contain, or may contain, "inside information" as defined under the Market Abuse Regulation (EU) No. 596/2014.