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Our Responsibilities

2016 has been a year of bold transformation. We relaunched our company as VEON and are steadily delivering on our strategy. We are committed to bringing top-class connectivity and internet experience to the markets we serve.

Our journey as a global communications and tech pioneer has taken a major step forward with the relaunch of VimpelCom as VEON, at Mobile World Congress Barcelona. VEON’s new world-class leadership team has already rebuilt our financial and operational foundations. We have drastically improved our telecom business with a lean, agile operating model and a significantly reduced cost base. We have stronger operating companies and an improved capital structure. As a business, we have returned to growth. We continue to build a new corporate culture with strengthened values.

The company is now fit for purpose, able to generate a good financial return from its existing connectivity business and invest in an exciting new internet platform to secure future success with:

  • A meaningful dividend: starting from 2016, a full year dividend of $0.23 per share, the company is committed to supporting a sustainable and progressive dividend policy going forward
  • Portfolio review complete: with successful transactions closed in Italy and Pakistan, and other divestments in non-core markets
  • An enhanced European profile: a secondary listing on the Euronext Amsterdam will boost liquidity and gives us stronger access to European investors and the opportunity for inclusion in key indices
  • A reduced debt profile: our improved financial performance enables a net debt/EBITDA ratio of around 2x

Our transformation and our role as a global communication provider give us unique advantages to disrupt from within, building a new digital infrastructure and personal internet platform, and bringing the full potential of the digital world to hundreds of millions of customers. At the heart of this journey is VEON, our new internet platform that provides customers a completely new digital experience. This fresh outlook and new product offer will secure existing revenue streams whilst generating new sources of income.

As a pioneering communications provider and tech pioneer in frontier markets, complex issues of social importance and corporate responsibility form an intrinsic part of our core business. These include issues of access, privacy, data protection and child safety, along with the social and economic change brought by the internet.

Our mobile financial services are delivering an inclusive, real and long term change in society, and is enabling the previously disenfranchised to participate in the digital economy. There are 2.5 billion unbanked people in the world, of which 410 million (20%) reside in our markets. Our emphasis is on providing improved access to basic financial services while helping the local businesses to grow.

Our strategy in corporate responsibility is designed to ensure that our business strategy addresses the issues which are materially significant to our stakeholders. Our flagship corporate responsibility program, Make Your Mark, launched in 2014, continued to develop throughout 2016. Through helping young people to shape their future, our aim is to foster innovation and digital entrepreneurism in all of our markets; investing in and supporting tech hubs, accelerators, digital training and competitions. In 2016, our Eurasia Mobile Challenge in Russia and the CIS was our most successful yet with over 1,000 startups participating.

Our incubator and accelerator programs are active in Pakistan, Bangladesh, Italy and Russia, and will be extended to our other markets in the coming year. We are proud that our Make Your Mark program, which is creating exciting new partnerships and paving the way for new digital leadership, is seen by local governments as an important driver of digital economic growth.

VEON is also part of the project leadership group for the GSMA ecosystem accelerator, helping to build synergies between mobile operators and startups in emerging markets.

We carry a responsibility to protect people in a digital world and to share its benefits widely and fairly. We are committed to world class standards in anti-bribery and anti-corruption. This means our business model must be based on strong values and principles; that delivers for and benefits other stakeholders and that will sustain itself long into the future. Our business model will continue to drive long term sustainable value.

Our future is based on partnerships and in none more so than in corporate responsibility where we will continue to develop new relationships. We will remain committed contributors to various World Economic Forum initiatives from Internet for All, to Digital Transformation of Industries, and Global Future Council on Platforms and Systems.

As we lead the personal internet revolution for the 207.5 million customers we currently serve, and many more in the years to come, we are determined to contribute to the UN’s Sustainable Development Goals that are built on multi-stakeholder collaborations. We aim, throughout our operating companies, to uphold the principles of the UN Global Compact to which we are a signatory.

When it comes to corporate responsibility, collaboration goes hand in hand with transparency. This is why we align ourselves with best practice of the latest Global Reporting Initiative’s (GRI) guidelines, the Integrated Reporting Framework and why we aim to maintain our good ranking in the Dutch Transparency Benchmark.

I’m proud to be part of this exciting journey, one that makes us a better company to invest in, do business with, and work for.

Jean-Yves Charlier

Chief Executive Officer

Chief Executive Officer

Jean-Yves Charlier
Chief Executive Officer
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