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VEON's current strategy to evolve into a digital operator with super apps isn't new. CEO Kaan Terzioğlu successfully implemented a similar model at Turkish telecom Turkcell. This track record provides evidence that the complex transformation is executable and not just a theoretical plan.
Digital transformation is not a one-time project but a perpetual flywheel of improvement. True change comes from re-engineering processes and empowering people first. Technology and platforms are the final step, not the starting point, enabling a company's ongoing evolution.
To remain agile and responsive, CEOs should avoid fully delegating all operational roles. BrandShield's CEO leads product and manages key accounts himself. This direct pipeline to customer feedback and market threats allows for rapid translation of insights into the company's product roadmap.
The market values VEON as a simple emerging market telecom, overlooking its rapidly growing digital financial services like JazzCash. These "super apps" have tech-like growth and could be worth more than the entire company's current enterprise value if valued separately, creating a significant valuation disconnect.
Successful AI adoption cannot be delegated. The CEO must personally and visibly lead the charge, going beyond mere lip service. If the top leader isn't fully bought in and driving the initiative, the organizational transformation required for AI will not take hold.
Sandeep Kulkarni, a co-founder and board member at Zura Bio before becoming CEO, highlights this path's advantage. It avoids the challenges external CEOs face in learning the assets, people, and culture, and prevents the mistake of simply reapplying a generic playbook that may not fit the company's unique situation.
MongoDB's CEO argues that successful pivots during tech transitions like cloud or AI are fundamentally change management challenges, not technical ones. The biggest risk for established companies is complacency. Leadership must force the organization to lean into new platform shifts, even when their maturity is uncertain, to avoid being disrupted like Nokia or BlackBerry.
To transform the 320,000-person company, Siemens' leadership avoided a top-down restructuring mandate. Instead, they defined a clear "North Star" vision and then empowered employees to co-create the "tracks" (initiatives) to reach it, fostering broad buy-in and ownership.
The key to getting a company "unstuck" with AI isn't better tools or grassroots strategy, but a clear vision from the CEO. This establishes becoming an "AI-forward" organization as a non-negotiable mandate, creating the necessary momentum and expectation for employees to upskill and adapt.
To overcome widespread resistance and inertia, companies should avoid company-wide digital transformation rollouts. Instead, create a small, empowered "tiger team" of top performers. Give them specialized training and incentives to pilot, perfect, and prove the new model before attempting a broader implementation.
VEON's long history of navigating hyperinflation, coups, and currency debasement isn't a bug; it's a feature. This operational resilience, ingrained in the company's DNA, acts as a competitive moat that is nearly impossible for new entrants to replicate in these tumultuous markets.