Veon Announces New Leadership Appointments, Yevgeniy Nastradin as CEO of Beeline Uzbekistan
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
0mins
Should l Buy VEON?
Veon announcedd a series of upcoming leadership appointments. Yevgeniy Nastradin will become CEO of Beeline Uzbekistan. Most recently, he served as CEO of Beeline Kazakhstan, leading the business since 2019. Andrey Pyatakhin, who has led Beeline Uzbekistan since 4Q24, will continue to serve Beeline Uzbekistan as COO. Jabbor Kayumov will be appointed CEO of Beeline Kazakhstan. Jabbor recently rejoined Veon Group as CEO for Telco Business at Beeline Kazakhstan. Prior to joining Beeline Kazakhstan, he served as CEO of Ncell in Nepal, led Digicel's operations in the Caribbean, and acted as CEO of Beeline Tajikistan. Ahmet Kayhan will join Veon as the Chief Payments & Digital Assets Officer. He joins Veon from DgPays Group, where he most recently led global growth as the Head of International Operations, and NEOPAY, one of the UAE's payment service providers, where he served as a board member. All appointments are to be effective April 1 subject to the completion of relevant corporate and regulatory approvals.
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Analyst Views on VEON
Wall Street analysts forecast VEON stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 47.280
Low
75.00
Averages
87.50
High
100.00
Current: 47.280
Low
75.00
Averages
87.50
High
100.00
No data
About VEON
VEON Ltd is a United Arab Emirates-based digital operator providing connectivity and Internet services to corporates and individuals. The Company offers mobile and fixed-line telecommunications services through a range of traditional and broadband mobile technologies. Mobile telecommunications services are provided under contract and prepaid plans for corporate and consumer segments, as well as value-added services. It also offers fixed-line telecommunication services, such as voice, data, and Internet services, as well as data transmission and network access, domestic and international voice termination, and international transit services for corporations, operators, and consumers. The Company also sells equipment, infrastructure, and accessories. Its services are offered in Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, and Kyrgyzstan. The Company provides its services under the Beeline, Kyivstar, Banglalink, and Jazz brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VEON Announces 2026 Annual General Meeting Date
- AGM Date Set: VEON has scheduled its 2026 Annual General Meeting for May 11, 2026, with a record date of March 31, 2026, ensuring timely shareholder participation and enhancing corporate governance transparency.
- Board Member Recommendations: The Board's Nomination Committee has recommended the re-election of seven current directors, including former U.S. Secretary of State Michael R. Pompeo, reflecting confidence in the existing leadership team to maintain strategic continuity for future growth.
- Significant Digital Revenue Growth: In Q4 2025, VEON's digital revenues surged by 84.1% year-over-year, accounting for 20.1% of total Group revenue, showcasing the success of the company's digital transformation strategy and enhancing its competitive position in the market.
- Global Partnership Advancement: The collaboration with SpaceX is advancing the integration of terrestrial and satellite networks, indicating VEON's ongoing commitment to technological innovation and service expansion, aimed at improving user experience and driving economic growth.
See More
VEON Management and Shareholder Alignment Strengthened
- Management Ownership: As of March 27, 2026, VEON's management collectively holds 1.84% of the company's shares, reflecting a strong alignment with shareholder interests and reinforcing the commitment to long-term value creation.
- Buyback Program Progress: VEON is advancing its $100 million buyback program, having repurchased 745,420 ADSs for a total of $39 million as of March 26, 2026, indicating a strong focus on shareholder returns.
- Annual Return Policy: The newly introduced capital allocation policy aims to return at least $100 million to shareholders annually through buybacks, further solidifying VEON's commitment to consistent and measurable shareholder returns.
- Digital Operator Strategy Execution: VEON serves over 150 million connectivity customers and more than 205 million quarterly digital users across five frontier markets, demonstrating strong execution of its digital services strategy and significant market potential.
See More
Kyivstar Invests Over 30% of Revenue to Enhance Network Resilience
- Investment in Resilience: Kyivstar's investments in network resilience and modernization exceeded 30% of its revenue in 2025, totaling approximately $913 million (UAH 40.1 billion), demonstrating a strong commitment to infrastructure restoration amid wartime challenges.
- 4G Network Expansion: The company built over 6,000 new base stations in 2025, expanding LTE coverage to 630 communities, enabling 96.2% of the population in Ukrainian-controlled areas to access high-speed 4G services, significantly enhancing user communication experiences.
- Highway Coverage Improvement: Throughout 2025, Kyivstar deployed new base stations along major highways, covering over 300 sections of international and national roads, improving connectivity along critical routes such as Kyiv-Kharkiv, Kyiv-Odesa, and Kyiv-Lviv, thereby enhancing the reliability of transportation communications.
- Ongoing Network Modernization: The company completed over 10,000 base station upgrades in the past year, and despite the challenges posed by the war, Kyivstar remains committed to restoring damaged networks to ensure reliable mobile connectivity and high-speed internet services for millions of users.
See More
Uklon Launches New Travel Service in App
- Service Expansion: Uklon has launched a new 'Travel' service in its mobile app, allowing users to purchase domestic and international bus tickets directly, marking a shift from a single-product company to a diversified ecosystem, enhancing its market competitiveness.
- User Experience Optimization: The new service is integrated into the main screen of the Uklon app, enabling users to quickly find available carrier options by simply selecting the departure city, destination, and date, thereby improving user convenience and satisfaction.
- Market Demand Response: Uklon's decision to expand its travel services is driven by consistently high demand for its seasonal Ski Bus service over the past three years, aiming to provide a unified entry point for trip planning, especially as air travel remains restricted.
- Strategic Investment Plan: Kyivstar intends to invest $1 billion in Ukraine's infrastructure and technological development from 2023 to 2027, demonstrating a long-term commitment to the Ukrainian market and further driving the growth of Uklon and its services.
See More
Kyivstar Launches New Travel Service in Uklon App
- Service Launch: Kyivstar's subsidiary Uklon has introduced a new 'Travel' service in its mobile app, allowing users to purchase domestic and international bus tickets directly, streamlining the travel process and enhancing user experience.
- Ecosystem Expansion: Uklon is transforming from a single-product company into a diverse ecosystem of products and services, including ride-hailing, delivery, and advertising platforms, thereby strengthening its competitive position in the market.
- Demand-Driven Growth: The decision to expand services is driven by consistently high demand for the seasonal Ski Bus to Bukovel over the past three years, aiming to provide users with more convenient travel options, especially amid restrictions on air travel.
- Strategic Investment Plans: Kyivstar intends to invest $1 billion in Ukraine from 2023 to 2027 in infrastructure and technological development, demonstrating a long-term commitment to the Ukrainian market and further solidifying its leadership position.
See More
Uklon Launches New Travel Service to Expand Mobility Ecosystem
- Service Expansion: Uklon has launched a new Travel service allowing users to book domestic and international bus tickets directly through the app, marking a shift from ride-hailing to a comprehensive mobility platform, which is expected to attract more users and increase market share.
- User Base: Uklon currently boasts 3.8 million monthly active users, having completed 43.6 million rides and 1.3 million deliveries in the last quarter, providing a strong foundation for promoting the new service and potentially boosting revenue.
- Market Demand: The new service addresses the growing demand for flexible transport options, particularly as air travel is restricted and rail capacity is under pressure, which is expected to enhance user loyalty and improve overall travel experience.
- Strategic Significance: This expansion not only solidifies Uklon's core position within Kyivstar's and VEON's digital ecosystems but also lays the groundwork for future diversification, helping the company capture a larger share of the competitive mobility market.
See More
VEON Announces 2026 Annual General Meeting Date
- AGM Date Set: VEON has scheduled its 2026 Annual General Meeting for May 11, 2026, with a record date of March 31, 2026, ensuring timely shareholder participation and enhancing corporate governance transparency.
- Board Member Recommendations: The Board's Nomination Committee has recommended the re-election of seven current directors, including former U.S. Secretary of State Michael R. Pompeo, reflecting confidence in the existing leadership team to maintain strategic continuity for future growth.
- Significant Digital Revenue Growth: In Q4 2025, VEON's digital revenues surged by 84.1% year-over-year, accounting for 20.1% of total Group revenue, showcasing the success of the company's digital transformation strategy and enhancing its competitive position in the market.
- Global Partnership Advancement: The collaboration with SpaceX is advancing the integration of terrestrial and satellite networks, indicating VEON's ongoing commitment to technological innovation and service expansion, aimed at improving user experience and driving economic growth.
See More
VEON Management and Shareholder Alignment Strengthened
- Management Ownership: As of March 27, 2026, VEON's management collectively holds 1.84% of the company's shares, reflecting a strong alignment with shareholder interests and reinforcing the commitment to long-term value creation.
- Buyback Program Progress: VEON is advancing its $100 million buyback program, having repurchased 745,420 ADSs for a total of $39 million as of March 26, 2026, indicating a strong focus on shareholder returns.
- Annual Return Policy: The newly introduced capital allocation policy aims to return at least $100 million to shareholders annually through buybacks, further solidifying VEON's commitment to consistent and measurable shareholder returns.
- Digital Operator Strategy Execution: VEON serves over 150 million connectivity customers and more than 205 million quarterly digital users across five frontier markets, demonstrating strong execution of its digital services strategy and significant market potential.
See More
Kyivstar Invests Over 30% of Revenue to Enhance Network Resilience
- Investment in Resilience: Kyivstar's investments in network resilience and modernization exceeded 30% of its revenue in 2025, totaling approximately $913 million (UAH 40.1 billion), demonstrating a strong commitment to infrastructure restoration amid wartime challenges.
- 4G Network Expansion: The company built over 6,000 new base stations in 2025, expanding LTE coverage to 630 communities, enabling 96.2% of the population in Ukrainian-controlled areas to access high-speed 4G services, significantly enhancing user communication experiences.
- Highway Coverage Improvement: Throughout 2025, Kyivstar deployed new base stations along major highways, covering over 300 sections of international and national roads, improving connectivity along critical routes such as Kyiv-Kharkiv, Kyiv-Odesa, and Kyiv-Lviv, thereby enhancing the reliability of transportation communications.
- Ongoing Network Modernization: The company completed over 10,000 base station upgrades in the past year, and despite the challenges posed by the war, Kyivstar remains committed to restoring damaged networks to ensure reliable mobile connectivity and high-speed internet services for millions of users.
See More
Uklon Launches New Travel Service in App
- Service Expansion: Uklon has launched a new 'Travel' service in its mobile app, allowing users to purchase domestic and international bus tickets directly, marking a shift from a single-product company to a diversified ecosystem, enhancing its market competitiveness.
- User Experience Optimization: The new service is integrated into the main screen of the Uklon app, enabling users to quickly find available carrier options by simply selecting the departure city, destination, and date, thereby improving user convenience and satisfaction.
- Market Demand Response: Uklon's decision to expand its travel services is driven by consistently high demand for its seasonal Ski Bus service over the past three years, aiming to provide a unified entry point for trip planning, especially as air travel remains restricted.
- Strategic Investment Plan: Kyivstar intends to invest $1 billion in Ukraine's infrastructure and technological development from 2023 to 2027, demonstrating a long-term commitment to the Ukrainian market and further driving the growth of Uklon and its services.
See More
Kyivstar Launches New Travel Service in Uklon App
- Service Launch: Kyivstar's subsidiary Uklon has introduced a new 'Travel' service in its mobile app, allowing users to purchase domestic and international bus tickets directly, streamlining the travel process and enhancing user experience.
- Ecosystem Expansion: Uklon is transforming from a single-product company into a diverse ecosystem of products and services, including ride-hailing, delivery, and advertising platforms, thereby strengthening its competitive position in the market.
- Demand-Driven Growth: The decision to expand services is driven by consistently high demand for the seasonal Ski Bus to Bukovel over the past three years, aiming to provide users with more convenient travel options, especially amid restrictions on air travel.
- Strategic Investment Plans: Kyivstar intends to invest $1 billion in Ukraine from 2023 to 2027 in infrastructure and technological development, demonstrating a long-term commitment to the Ukrainian market and further solidifying its leadership position.
See More
Uklon Launches New Travel Service to Expand Mobility Ecosystem
- Service Expansion: Uklon has launched a new Travel service allowing users to book domestic and international bus tickets directly through the app, marking a shift from ride-hailing to a comprehensive mobility platform, which is expected to attract more users and increase market share.
- User Base: Uklon currently boasts 3.8 million monthly active users, having completed 43.6 million rides and 1.3 million deliveries in the last quarter, providing a strong foundation for promoting the new service and potentially boosting revenue.
- Market Demand: The new service addresses the growing demand for flexible transport options, particularly as air travel is restricted and rail capacity is under pressure, which is expected to enhance user loyalty and improve overall travel experience.
- Strategic Significance: This expansion not only solidifies Uklon's core position within Kyivstar's and VEON's digital ecosystems but also lays the groundwork for future diversification, helping the company capture a larger share of the competitive mobility market.
See More
