July 24, 2017 / 10:18 AM / a year ago

VEON board elects former Xerox CEO Ursula Burns as chairman

FRANKFURT, July 24 (Reuters) - Global telecoms operator VEON has elected former Xerox Corp chief Ursula Burns as its chairman, the company said on Monday, part of corporate governance reforms that are designed to showcase its makeover as an online services player.

Alexey Reznikovich, the long-serving chairman of VEON, formerly known as VimpelCom, will remain on the board as one of the representatives of LetterOne Investment, the company said.

Earlier, Burns, and along with Guy Laurence, a British telecoms industry veteran who left last year as chief executive of Canadian telecoms firm Rogers, were elected along with nine existing members to a new 11-seat board of directors.

VEON is reconstituting its board so a majority of directors are independent of its two main investors, LetterOne Investment, controlled by Russian billionaire Mikhail Fridman and his partners, and Norwegian mobile operator Telenor. (Reporting By Eric Auchard; Editing by Maria Sheahan)

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