Vodafone Chairman to Step Down Next Year

Vodafone has announced that the company Chairman, Lord MacLaurin will be retiring next July. He will be succeeded as Chairman by Sir John Bond, currently Group Chairman of the banking group, HSBC Holdings and a non-executive director of Vodafone. Sir John will be retiring from HSBC in May 2006.

Ian MacLaurin has had a distinguished business career and joined Vodafone as a non-executive director in 1997, becoming Chairman in July 1998. In his 9 years with the Company he has served twice as Chairman, as he stepped down on the merger with AirTouch Communications Inc in 1999, resuming his role a year later. He was formerly Chairman and Chief Executive of the supermarket chain, Tesco and has held non-executive roles in a number of FTSE-100 companies.

Upon his retirement from the Board, Lord MacLaurin will become an adviser to the Company. He will also become Chairman of the Vodafone Group Foundation, an independent charitable trust set up to administer charitable and other donations on behalf of the Company.

Arun Sarin, Chief Executive of Vodafone, said "Ian MacLaurin has made a huge contribution to the success of Vodafone. He has been an outstanding Chairman and has overseen the transition of the business from a UK operator to a major global company. In 1997 we had just 4 million customers in 12 markets and now have over 170 million in 27 markets. Ian has overseen this transformation with great distinction. His deep customer experience, his understanding of marketing and his commercial drive have been very significant influences in the development of the Company.

I am very pleased that he has accepted our invitation to become an adviser and I will personally value his continuing links with Vodafone and the ambassadorial role he will play."

In a career spanning 44 years with HSBC Sir John Bond has worked in six countries in three continents. He was appointed Group Chief Executive in 1993 and Group Chairman in 1998. Sir John, who is also a non-executive Director of Ford Motor Company, was Chairman of the Institute of International Finance, Washington DC for five years, and was on the Court of the Bank of England from 2001 to 2004.

Commenting on the appointment of Sir John Bond as his successor, Lord MacLaurin said "I am delighted that John Bond will be succeeding me as Chairman of Vodafone. He is an outstandingly successful international businessman and his track record at HSBC speaks for itself. Succession planning at Vodafone is a critical element in how we run our business and after nine years on the Board I believe that this is the right time for me to hand over."

Posted to the site on 6th December 2005