15 Nov 2023 11:28

Ex-U.S. Secretary of State Pompeo to join Board of Directors of VEON's Ukrainian subsidiary

MOSCOW. Nov 15 (Interfax) - Former U.S. Secretary of State Mike Pompeo has been named to the Board of Directors of Kyivstar, one of Ukraine's largest mobile operators, the VEON holding, where Kyivstar is a subsidiary, said in a press release.

Pompeo will join the Kyivstar Board of Directors as an independent non-executive director and in his capacity as a partner of Impact Investments, a newly established U.S.-based financial advisory and investment firm.

In addition, VEON Group CEO Kaan Terzioglu has been appointed as chair of the Kyivstar Board of Directors.

These changes to Kyivstar's Board of Directors "reflect VEON's commitment to Ukraine," Ukrainian media quoted the holding.

"We look forward to the knowledge and experience that Mike Pompeo will contribute to Kyivstar as an active and independent member of the Kyivstar Board," Terzioglu was quoted by the press release as saying.

As previously announced, VEON has committed $600 million in investments in Ukraine over the next three years. VEON recently exited the Russian market, announcing the completion of the sale of its Russian telecoms asset - PJSC VimpelCom .

Impact Investments "will be supporting the management of Kyivstar and its parent company VEON in a number of key strategic initiatives regarding Ukraine."

Pompeo served as U.S. secretary of state from 2018 to 2021. He was the director of the Central Intelligence Agency from 2017 to 2018. Pompeo also represented the state of Kansas in the U.S. House of Representatives from 2011 to 2017 and was the CEO of Thayer Aerospace from 1996 to 2006.

In October, a Ukrainian court froze the corporate rights valued at over $460 million in Ukraine, belonging to three businessmen - Mikhail Fridman, Pyotr Aven and Andrei Kosogov. All three executives are affiliated with the VEON holding and are under sanctions from Ukraine. These assets included 100% of Kyivstar shares. The court later adjusted its decision, adding that the measure applies to 47.85% of the corporate rights in Kyivstar which allegedly belong to the designated persons. VEON filed a motion with a court, challenging the freezing of the shares.