Vodafone says chairman to retire in July
British mobile phone giant Vodafone said Wednesday that its chairman John Bond would step down in July to be replaced by the chief executive of Dutch electronics group Philips, Gerard Kleisterlee.
"It is an honour and a privilege to be invited by the board of Vodafone to become its chairman," Kleisterlee said in a statement.
"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."
Bond will step down after five years in the job.
"During his chairmanship, Vodafone delivered strong returns for shareholders... This includes an increase in the share price from 115.6 pence on 25 July 2006 when Sir John became chairman, to 177.0 pence at the close of business on 1 February 2011," the company statement said.
© 2011 AFP