VEON Implements New Clawback Policy and Updates Incentive Plans to Enhance Accountability in Compliance with Nasdaq Listing Standards
27/11/2023
VEON Implements New Clawback Policy and Updates Incentive Plans to Enhance Accountability in Compliance with Nasdaq Listing Standards Amsterdam, 27 November 2023 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces governance enhancements to its executive remuneration structure, underscoring its commitment to ethical corporate governance practices and financial integrity. The Board of Directors of VEON (the Company ) has introduced a robust Policy for the Recovery of Erroneously Awarded Compensation (the Clawback Policy ) to align with Section 10D and Rule 10D-1of the Securities Exchange Act of 1934 and the listing standards adopted by NASDAQ.
Effective 2 October 2023, the Clawback Policy enables the Company to recover erroneously awarded incentive-based compensation from current and former Executive Officers (as defined in the Clawback Policy) in the event that it is required to prepare an accounting restatement. This step is crucial in maintaining transparency and accountability, particularly in instances requiring accounting restatements.
In tandem with the adoption of the Clawback Policy, the Board of Directors has also revised existing incentive-based compensation plans to further align executive remuneration with shareholder interests and corporate objectives. The amended incentive-based compensation plans, copies of which are filed as Exhibits 99.3, 99.4 and 99.5 to the Company's Current Report on Form 6-K filed today, reflect VEON's continuous effort to ensure its governance structure evolves in line with industry best practices.
The foregoing description of the Clawback Policy does not purport to be complete and is qualified in its entirety by reference to the full text of the Clawback Policy, a copy of which is filed as Exhibit 99.2 to the Company's Current Report on Form 6-K filed today.
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. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. 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 governance, strategy and investment plans. 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. 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.
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order to comply with your preferences, well have to use just one tiny cookie so that youre not asked to make this choice again.
AcceptDecline
LINK: | https://www.veon.com/newsroom/press-releases/veon-implements-new-clawb... |
See more stories from vimpel |
More from VimpelCom
12/11/2024
VEON Announces Special General Meeting for the Laying of the 2023 Audited Financials Before Shareholders
12 Nov 2024 VEON Announces Special General Meeting for the Laying of the 2023 A...
11/11/2024
VEON Elevates its Youth Offering Through Banglalink's AI-Powered Lifestyle App RYZE
11 Nov 2024 VEON Elevates its Youth Offering Through Banglalink's AI-Powere...
08/11/2024
VEON Group Reaffirms Commitment to Strengthen Pakistan's Digital Infrastructure in Meeting with Prime Minister
08 Nov 2024 VEON Group Reaffirms Commitment to Strengthen Pakistan's Digita...
07/11/2024
VEON's Cloud & Cybersecurity Platform Garaj Signs with Standard Chartered Bank in Pakistan
07 Nov 2024 VEON's Cloud & Cybersecurity Platform Garaj Signs with Standard...
05/11/2024
VEON's Jazz Enters Partnership to Support Local-Language AI LLM Development in Pakistan
05 Nov 2024 VEON's Jazz Enters Partnership to Support Local-Language AI LLM...
01/11/2024
VEON Files its Dutch Annual Report with Audited Financial Statements for Year Ended 31 December 2023
01 Nov 2024 VEON Files its Dutch Annual Report with Audited Financial Statement...
01/11/2024
VEON Launches AI-Powered Super App Hambi in Uzbekistan
01 Nov 2024 VEON Launches AI-Powered Super App Hambi in Uzbekistan Amsterdam, Dubai and Tashkent, 1 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam...
29/10/2024
VEON CEO Kaan Terzioglu Re-elected to the GSMA Board
29 Oct 2024 VEON CEO Kaan Terzioglu Re-elected to the GSMA Board Amsterdam and Dubai, 29 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a gl...
25/10/2024
JazzCash and Dgpays Join Forces to Enhance Marketplace Payments in Pakistan
25 Oct 2024 JazzCash and Dgpays Join Forces to Enhance Marketplace Payments in Pakistan Amsterdam and Dubai, 25 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...
24/10/2024
VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplace to Unlock Affordable Insurance and Healthcare in Pakistan
24 Oct 2024 VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplac...
21/10/2024
Nasdaq Confirms VEON's Full Compliance Following its 2023 20-F Filing
21 Oct 2024 Nasdaq Confirms VEON's Full Compliance Following its 2023 20-F Filing Amsterdam and Dubai, 21 October 2024: VEON Ltd. (Nasdaq: VEON; Euronext A...
21/10/2024
VEON Commences its Delisting from Euronext Amsterdam to Consolidate its Trading on Nasdaq in New York
21 Oct 2024 VEON Commences its Delisting from Euronext Amsterdam to Consolidate...
21/10/2024
VEON Welcomes Letter from its Shareholder Shah Capital, Reiterates Commitment to Shareholder Value Creation
21 Oct 2024 VEON Welcomes Letter from its Shareholder Shah Capital, Reiterates ...
17/10/2024
VEON Files its 2023 Form 20-F
17 Oct 2024 VEON Files its 2023 Form 20-F Amsterdam, 17 October 2024, 20:45: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator ( VE...
14/10/2024
VEON Announces Plan to Move its Headquarters to Dubai International Financial Center
14 Oct 2024 VEON Announces Plan to Move its Headquarters to Dubai International...
14/10/2024
VEON appoints Andrey Pyatakhin as the incoming CEO of Beeline Uzbekistan
14 Oct 2024 VEON appoints Andrey Pyatakhin as the incoming CEO of Beeline Uzbekistan Amsterdam and Tashkent, 14 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...
09/10/2024
VEON Launches KINOM Digital Entertainment Platform in Uzbekistan
09 Oct 2024 VEON Launches KINOM Digital Entertainment Platform in Uzbekistan Amsterdam and Tashkent, 09 October 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amster...
02/10/2024
VEON's Mobilink Bank and Banglalink Take Home Digital Nations Awards at GSMA's M360 Asia-Pacific
02 Oct 2024 VEON's Mobilink Bank and Banglalink Take Home Digital Nations ...
30/09/2024
VEON Strengthens Group Leadership Team Adding Two Senior Executives to Its Dubai Team
30 Sep 2024 VEON Strengthens Group Leadership Team Adding Two Senior Executives...
30/09/2024
VEON Completes the Sale of Its Stake in TNS+ in Line with Asset-Light Strategy
30 Sep 2024 VEON Completes the Sale of Its Stake in TNS in Line with Asset-Light Strategy Amsterdam, 30 September 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amst...
27/09/2024
VEON Bonds to Re-Enter CEMBI and JACI Indices
27 Sep 2024 VEON Bonds to Re-Enter CEMBI and JACI Indices Amsterdam, 27 September 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital o...
16/09/2024
VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investment and Continued Commitment to Serving Ukraine
16 Sep 2024 VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investme...
13/09/2024
VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader by the Financial Times
13 Sep 2024 VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader...
12/09/2024
VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu
12 Sep 2024 VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu Amsterdam, 12 September 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam:...
09/09/2024
VEON's Kyivstar Receives Further Recognition as Top International Investor in Ukraine
09 Sep 2024 VEON's Kyivstar Receives Further Recognition as Top Internation...
02/09/2024
Supporting Digital Skills Development: Beeline Kazakhstan Adds New Secondary School to Award-Winning CSR Programme
02 Sep 2024 Supporting Digital Skills Development: Beeline Kazakhstan Adds New ...
27/08/2024
Tamasha Opens New Innings with First International Streaming of Cricket Matches
27 Aug 2024 Tamasha Opens New Innings with First International Streaming of Cricket Matches Amsterdam and Islamabad, 27 August 2024: VEON Ltd. (Nasdaq: VEON, E...
14/08/2024
VEON's Kyivstar and Come Back Alive Launch New Fundraising Campaign for Demining Ukraine
14 Aug 2024 VEON's Kyivstar and Come Back Alive Launch New Fundraising Camp...
08/08/2024
VEON 2Q24 Trading Update: Double-Digit USD Growth, Robust Operational Execution, Confirming Full Year Guidance
08 Aug 2024 VEON 2Q24 Trading Update: Double-Digit USD Growth, Robust Operation...
01/08/2024
VEON Announces Intention to Delist from Euronext Amsterdam and to Initiate a Share Buyback Program for up to USD 100 million
01 Aug 2024 VEON Announces Intention to Delist from Euronext Amsterdam and to I...
29/07/2024
VEON Publishes 2023 Integrated Annual Report
29 Jul 2024 VEON Publishes 2023 Integrated Annual Report Amsterdam, 29 July 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator...
25/07/2024
VEON to release 2Q 2024 trading update on 8 August 2024
25 Jul 2024 VEON to release 2Q 2024 trading update on 8 August 2024 Amsterdam, 25 July 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digi...
22/07/2024
VEON's Jazz Secures Pakistan's Largest Long-Term Private Sector Syndicated Credit Facility of up to PKR 75 billion
22 Jul 2024 VEON's Jazz Secures Pakistan's Largest Long-Term Private Se...
17/07/2024
VEON's Kyivstar Extends Energy Resilience of Network
17 Jul 2024 VEON's Kyivstar Extends Energy Resilience of Network Kyivstar addresses power blackouts with industrial-grade generator fleet Amsterdam and Ky...
09/07/2024
VEON Receives Licence from U.S. Treasury's OFAC, Amends 2025 and 2027 Notes
09 Jul 2024 VEON Receives Licence from U.S. Treasury's OFAC, Amends 2025 and 2027 Notes Amsterdam, 9 July 2024: VEON Ltd. (Nasdaq: VEON and Euronext Amster...
26/06/2024
VEON Discloses its 1Q24 Unaudited Interim Condensed Consolidated Financial Statements
26 Jun 2024 VEON Discloses its 1Q24 Unaudited Interim Condensed Consolidated Fi...
10/06/2024
VEON and Kyivstar increase Ukraine investment commitment to USD 1 billion, attend Ukraine Recovery Conference in Berlin
10 Jun 2024 VEON and Kyivstar increase Ukraine investment commitment to USD 1 b...
06/06/2024
VEON to Hold Capital Markets Day 2024, Sharing Mid-Term Ambition to Accelerate Local Currency Topline Growth to 16%-19% CAGR
06 Jun 2024 VEON to Hold Capital Markets Day 2024, Sharing Mid-Term Ambition to...
31/05/2024
VEON discloses April YTD trading update at its AGM
31 May 2024 VEON discloses April YTD trading update at its AGM Amsterdam, 31 May 2024 07:00 CEST - VEON April YTD 2024 Highlights Total revenue of USD 1,278 ...
31/05/2024
VEON Announces Its New Board, Names Founder Augie Fabela as Chairman
31 May 2024 VEON Announces Its New Board, Names Founder Augie Fabela as Chairman Amsterdam, 31 May 2024, 16.00 CET: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam...
29/05/2024
VEON appoints UHY LLP as auditors for VEON Group's 2023 PCAOB Audit and shares compliance plan with Nasdaq
29 May 2024 VEON appoints UHY LLP as auditors for VEON Group's 2023 PCAOB A...
28/05/2024
VEON Progresses with Asset-Light Strategy, Reaches Agreement to Sell Stake in TNS+ in Kazakhstan
28 May 2024 VEON Progresses with Asset-Light Strategy, Reaches Agreement to Sel...
22/05/2024
VEON Receives Nasdaq Notice on Delayed Filing, Confirms Ongoing Effort to Address Auditor Appointment
22 May 2024 VEON Receives Nasdaq Notice on Delayed Filing, Confirms Ongoing Eff...
20/05/2024
VEON's Banglalink and Robi Axiata Partner to Explore Network Sharing to Expand 4G Access in Bangladesh
20 May 2024 VEON's Banglalink and Robi Axiata Partner to Explore Network Sh...
16/05/2024
VEON 1Q24 Trading Update: Accelerating USD Growth, Strong Operational Execution
16 May 2024 VEON 1Q24 Trading Update: Accelerating USD Growth, Strong Operational Execution Amsterdam, 16 May 2024 07:00AM CEST - VEON Q1 2024 Highlights Q1...
15/05/2024
VEON Publishes Annual Corporate Governance Report for Financial Year 2023
15 May 2024 VEON Publishes Annual Corporate Governance Report for Financial Year 2023 Amsterdam, 15 May 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEO...
15/05/2024
VEON and Beeline Kazakhstan Partner with GSMA and Barcelona Supercomputing Centre to Support Use of AI in Local Languages
15 May 2024 VEON and Beeline Kazakhstan Partner with GSMA and Barcelona Superco...
14/05/2024
Tamasha Scores Big with Digital Streaming Rights for ICC Cricket Tournaments in 2024 and 2025
14 May 2024 Tamasha Scores Big with Digital Streaming Rights for ICC Cricket To...