Board Changes and New Organisational Structure at Vodafone.
The new organisation is designed to: * Focus more attention on customers in Vodafone's local markets; * Enhance Vodafone's ability to deliver seamless services to corporations; * Facilitate co-ordinated delivery of 3G across all markets; * Function as an integrated company, delivering on One Vodafone; and * Simplify decision-making, accountabilities and governance structures to speed up execution
Vodafone will simplify its existing regional structure with major countries and business areas reporting into the Chief Executive. All first line management functions in the Operating Companies will have a dual reporting line to the respective functions at Group level.
Arun Sarin, Chief Executive said: "We are creating an organisation that is better positioned to respond to the high expectations of our customers. Faster execution will enable us to extend our lead within the mobile industry and deliver the benefits to our customers, our employees and our shareholders."
MAIN BOARD APPOINTMENTS
Sir Julian Horn-Smith will be appointed Deputy Chief Executive with effect from 1 January 2005.
Vodafone separately announces that Andy Halford has been appointed Financial Director Designate. Andy will succeed Ken Hydon when he retires on 26 July 2005.
OPERATING COMPANY STRUCTURE
Vodafone's operating company structure will be streamlined to ensure effective and fast decision-making, enabling improved time to market across a number of business initiatives. Consequently, the following operating companies and business areas will report directly into the Chief Executive:
* European Affiliates (Belgium, France, Poland, Romania and Switzerland) and Non-European Affiliates (China, Fiji, Kenya, South Africa and United States), led by Sir Julian Horn-Smith; * Germany, led by Jurgen von Kuczkowski; * Italy, led by Pietro Guindani; * United Kingdom, led by Bill Morrow; * Other EMEA Subsidiaries (Albania, Egypt, Greece, Hungary, Ireland, Malta, Netherlands, Portugal, Spain and Sweden), led by Paul Donovan; * Asia Pacific (Australia, Japan and New Zealand), led by Brian Clark who will also be appointed Group Human Resources Director Designate GROUP FUNCTIONS
Vodafone's Group functions will be strengthened to support the delivery of seamless global propositions and Vodafone's continued integration. The following functions will also report directly into the Chief Executive:
* Marketing, led by Peter Bamford, the Chief Marketing Officer. This function will be reinforced by a newly created Multi National Corporates unit which will assume full accountability for serving Vodafone's global corporate customers. Group Marketing will also manage the global handset portfolio and procurement; * Technology, led by Thomas Geitner, the Chief Technology Officer. In addition to standardised network design and global supply chain management, this function will introduce the concept of shared service operation for IT and service delivery; * Business Development, a new function led by Sir Julian Horn-Smith. Sir Julian will be responsible for driving Vodafone's product and services portfolio into Vodafone's affiliates and the Partner Networks. In addition, this function will assume responsibility for expanding and consolidating Vodafone's footprint through the Partner Network programme and any Corporate Finance activities NEW GOVERNANCE STRUCTURE
Vodafone also announces changes to its governance process. The Group will have two management committees which will oversee the execution of the Main Board's strategy and policy.
* The Executive Committee1 Chaired by Arun Sarin, this committee will focus on the Group's strategy, financial structure and planning, succession planning, organisational development and Group-wide policies. * The Integration and Operations Committee2 Chaired by Arun Sarin, this committee will be responsible for setting operational plans, budgets and forecasts, product and service development, customer segmentation, managing delivery of multi-market propositions and managing shared resources. FINANCIAL REPORTING
The Group's financial reporting for the year ending 31 March 2005 will reflect this new organisational structure while the Group's interim results, to be announced on 16 November 2004, will be reported under the current structure. The Group will provide proforma results for the new structure on 16 November.3
Notes to editors: 1. New organisational structure as of 1 January 2005 2. Representatives of the Executive Committee as of 1 January 2005: Arun Sarin, Chief Executive Sir Julian Horn-Smith, Deputy Chief Executive Ken Hydon, Financial Director* Peter Bamford, Chief Marketing Officer Thomas Geitner, Chief Technology Officer Jurgen von Kuczkowski, Chief Executive Germany Pietro Guindani, Chief Executive Italy Bill Morrow, Chief Executive United Kingdom Paul Donovan, Regional Chief Executive Brian Clark, Chief Executive Asia Pacific and Group Human Resources Director Designate Shiro Tsuda, Chief Executive Japan Alan Harper, Group Strategy and Business Integration Director Phil Williams, Group Human Resources Director* Stephen Scott, Group General Counsel and Company Secretary Simon Lewis, Group Corporate Affairs Director * Due to retire July 2005 3. Representatives of the Integration and Operations Committee as of 1 January 2005: Same as Executive Committee with the addition of: Fritz Joussen, Chief Operating Officer Germany 4. Country Breakdown for Financial Reporting Purposes*: EMEA: Germany Italy Spain United Kingdom Other EMEA subsidiaries Albania Egypt Greece Hungary Ireland Malta Netherlands Portugal Sweden EMEA Affiliates Belgium France Kenya Poland Romania South Africa Switzerland Asia Pacific: Japan Other Asia Pacific Australia China Fiji New Zealand US Total Mobile Other Total Group * All countries in italics will not be disclosed separately
CONTACT: Investor Relations: Melissa Stimpson or Darren Jones, both of Vodafone Group, +44-1635-673310; Media Relations: Bobby Leach or Ben Padovan, +44-1635-673310; or Lulu Bridges of Tavistock Communications, +44-20-7920-3150
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|Date:||Oct 13, 2004|
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