UK mobile operator Vodafone has confirmed plans to appoint Gerard Kleisterlee, CEO of Dutch electronics manufacturer Phillips, as chairman in July.
Kleisterlee will replace Sir John Bond, who has faced heavy criticism from some shareholders over the…
UK mobile operator Vodafone has confirmed plans to appoint Gerard Kleisterlee, CEO of Dutch electronics manufacturer Phillips, as chairman in July.
Kleisterlee will replace Sir John Bond, who has faced heavy criticism from some shareholders over the group’s overseas minority investments, and its inability to extract dividend payouts from US-based Verizon Wireless, a JV it shares with American telco Verizon.
Some 6.53% of shareholders led by investor group Ontario Teachers’ Pension Plan voted against Sir John’s re-election at the company’s AGM last July.
Rumours first surfaced last September that the group had selected headhunter MWM Consulting to search for Sir John’s replacement before its next AGM.
Reports last month suggested the group was poised to name Kleisterlee as its next chairman to bring in renewed emerging markets experience.
Announcing Kleisterlee’s appointment today, Vodafone CEO Vittorio Colao paid tribute to Sir John’s six years on the company’s board.
“We have been fortunate to have benefited from his leadership, experience and wise counsel in a time of evolution for Vodafone,” said Colao.
“I personally am very grateful to him for his constant support and personal advice since becoming CEO, during a phase of extraordinary economic and industry changes.”
Kleisterlee will retire from Philips at the end of March, and will become a non-executive director of Vodafone on 1 April.
“I am looking forward greatly to this new challenge, to contributing to this company’s record of success, and to building on Sir John’s outstanding achievements,” said Kleisterlee.
