VEON has installed a new Chairman and added a new Director to its Board at its Annual General Meeting today (24 July).

Ursula Burns join the board as Chairman, replacing Alexey Reznikovich, who will remain a member of the board.

Burns was Chairman and CEO of Xerox from 2009 to 2016, overseeing its move from document technology provision to business services, as well as its separation into two companies.

She joins former Vodafone UK Chief Executive Guy Laurence who has been hired as a Director.

Laurence most recently served as CEO of Rogers until October 2016, when he left after reportedly falling out with the family owners of the Canadian telecoms and media group.

Burns said VEON’s reinvention of what a telecoms company can be is a “familiar challenge”, citing her experience at Xerox.

“I am also looking forward to working with the board to continue to reinforce VEON's corporate governance and culture of compliance, and in guiding our management team to deliver the financial performance that will create long-term value for our shareholders,” she said.

VEON settled allegations of corruption at its opco in Uzbekistan with a $795 million fine last February, but saw the CEO of its Russian subsidiary Beeline resign over more corruption allegations in September.

VEON saw like-for-like sales fall one percent to $2.28 billion in the first three months of this year, its most recent financial results.

EBITDA rose 1.9 percent to $861 million.

The operator has 210.4 million customers, nor including its joint venture in Italy with Three.

Reznikovich said: “Over the past two and a half years VEON has embarked on a transformational journey driven by our Global Leadership team.

“Today’s appointments represent another key milestone in this journey and we will look to continue to increase the independence of the Supervisory Board, ensuring it is aligned with global corporate governance best practice.”

The appointments, confirmed today, were provisionally announced in June.

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