Gerard Kleisterlee named new Vodafone chairman

Gerard Kleisterlee, president and CEO of electronics company Philips, is to become the new chairman of Vodafone. The 64-year-old will take over from Sir John Bond, who has held the position for five years.

Last July, 6 per cent of Vodafone's shareholders, led by the Ontario Teachers Pension Plan (OTPP), staged a protest against Sir John's re-election, calling for the company to shake up the board and address its "strategic weaknesses". 

Despite this, Vodafone has stressed that their search for a new chairman was voluntary, and began in February, before the shareholders' protest took place.

Kleisterlee, a highly respected Dutch businessman who, during his 10 years as CEO of Philips, expanded the company into one of the world's largest electronics suppliers, has 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."
  
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