Vodafone has filled one of the City’s highest-profile posts by appointing the boss of electronics giant Philips as its next chairman.
Gerard Kleisterlee, president and chief executive at Philips, will take over from Sir John Bond, who will end a five-year reign as the mobile phone company’s chairman in July.
The 64-year-old Dutchman, who was seen as a forerunner for the coveted role, has spent 37 years at Philips and nearly 10 years in the top position. He is considered to be one of Europe’s most prominent business leaders.
Sir John, 69, who received his knighthood for services to banking following his tenure as chief executive of HSBC, came under fire last year from some Vodafone shareholders over the group’s strategy and track record on acquisitions.