Vodafone Chairman To Step Down In July

Vodafone has announced that its current chairman Sir John Bond is to step down in July.

In a statement, the mobile phone giant said that Sir John is to be replaced by the outgoing chief executive of electronics firm Philips Gerard Kleisterlee.

"It is an honour and a privilege to be invited by the board of Vodafone to become its chairman," Kleisterlee said.

"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."

Kleisterlee, whose 10 years at the helm of Philips is set to come to an end on 31 March, will also be appointed as non-executive director at Vodafone the next day.

“Today's announcement is the culmination of a succession planning process which the Board initiated in February 2010,” said Sir John.

“I am delighted to announce that Gerard Kleisterlee, a highly successful international businessman whose track record at Philips speaks for itself, will be succeeding me as Chairman after my six years on the Board of Vodafone.”