Vodafone Appoints Consultants to Start Search for New Chairman
May 31 2019 - 10:30AM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC (VOD.LN) has instructed executive-search
consultancy MWM Consulting to assist in the search for a new
chairman to replace Gerard Kleisterlee, the telecommunications
company said in its annual report.
No decision has currently been taken on when the company's
current chairman will step down, Vodafone said. The decision
follows the introduction of new U.K. rules that require that a
company's chair shouldn't remain in the post beyond nine years from
the date of their first appointment.
Mr. Kleisterlee became Vodafone's chairman on July 26, 2011,
having joined the company's board on April 1, 2011. Prior to
Vodafone, Mr. Kleisterlee was chief executive and chairman of the
management board of Koninklijke Philips NV (PHIA.AE).
In its report, Vodafone cited potential geopolitical disruptions
in supply chain due to global trade tensions as a new risk. The
company also said it is prepared for a no-deal Brexit scenario, as
it continues to monitor the implications of the U.K.'s departure
from the European Union to its operations.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
May 31, 2019 10:15 ET (14:15 GMT)
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