Vodafone Group Plc VODAFONE ANNOUNCES EXECUTIVE COMMITTEE CHANGES (1188S)
November 04 2019 - 4:00AM
UK Regulatory
TIDMVOD
RNS Number : 1188S
Vodafone Group Plc
04 November 2019
4 November 2019
VODAFONE ANNOUNCES EXECUTIVE COMMITTEE CHANGES
-- Vodafone appoints Vivek Badrinath as CEO of its new European tower business
-- Group management structure to be simplified with the removal
of Vodafone's Rest of World regional organisation
-- Shameel Joosub, CEO of Vodacom Group, to join Vodafone's Executive Committee
Vodafone Group Plc ("Vodafone") today announced that Vivek
Badrinath will be appointed Chief Executive of its new European
tower company, referred to as 'TowerCo', effective 1 April 2020. In
line with our previous announcement in July, TowerCo([1]) will be
legally separated into a new organisation and will become
operational by May 2020, with a senior team in place by that time.
Capturing the industrial benefits from network sharing, achieving
operational efficiencies and pursuing monetisation opportunities
for passive tower infrastructure are key elements of Vodafone's
strategy to improve asset utilisation.
Vivek Badrinath is currently the Chief Executive of Vodafone's
Rest of World operations. He has extensive telecoms and technology
leadership experience from his role at Vodafone and his previous
roles at Orange, where he was Deputy Chief Executive and prior to
that led its global networks and operations division. Before
joining Vodafone, Vivek was Deputy Chief Executive of international
hospitality group AccorHotels.
Nick Read, Chief Executive of Vodafone, said: "I'm pleased that
Vivek, one of our most experienced senior executives, will be
leading our new tower business. We believe that there is
significant scope to generate operational efficiencies and increase
tenancy ratios across our tower portfolio, and that we will be able
to unlock value for shareholders."
Vodafone also announces today that it will simplify its
management structure with the removal of the Rest of World regional
organisation, from the beginning of FY20/21. Following this
reorganisation, Shameel Joosub, the Chief Executive of Vodacom
Group, will be joining Vodafone's Executive Committee, effective 1
April 2020.
Nick Read said: "I look forward to welcoming Shameel to
Vodafone's Executive Committee. This appointment will streamline
the management of our businesses and reflects the significance of
Vodacom within the Group. Shameel has led our African operations
through a period of sustained growth and he will be an excellent
addition to our senior team."
Shameel Joosub became Chief Executive of Vodacom Group in
September 2012. Prior to that, Shameel was Chief Executive of
Vodafone Spain, and before that, he was the Managing Director of
Vodacom South Africa. Shameel is a member of Vodacom Group's Board
and in August 2017, he was appointed a Non-Executive Director and
member of the Audit committee of Safaricom, the leading Kenyan
communications company.
[1] Vodafone has one of Europe's largest tower portfolios,
comprising approximately 61,700 towers across 10 countries, with
75% of these sites in the major markets of Germany, Italy, Spain
and the UK. When Vodafone announced the creation of its TowerCo in
July 2019, it estimated its towers business could generate
proportionate annual revenue and EBITDA of around EUR1,700 million
and EUR900 million respectively.
- ends -
For further information:
Vodafone Group
Media Relations Investor Relations
GroupMedia@vodafone.com IR@vodafone.co.uk
Notes to Editors
About Vodafone Group
Vodafone Group is one of the world's leading telecoms and
technology service providers. We have extensive experience in
connectivity, convergence and the Internet of Things, as well as
championing mobile financial services and digital transformation in
emerging markets.
Vodafone Group has mobile operations in 24 countries, partners
with mobile networks in 41 more, and fixed broadband operations in
19 markets. As of 30 June 2019, Vodafone Group had approximately
640 million mobile customers, 21 million fixed broadband customers
and 14 million TV customers, including all of the customers in
Vodafone's joint ventures and associates. For more information,
please visit: www.vodafone.com.
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END
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