Vodafone names the boss of electronics group Philips as next chairman

Vodafone filled one of the City's highest-profile posts yesterday 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.

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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.

Mr Kleisterlee, a married father of three who currently lives in Amsterdam, has transformed Philips from a predominantly semiconductor business into a lighting, healthcare and consumer electronics group.

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

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"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."

Vodafone investors staged a protest vote against the mobile phone giant last July as nearly 7 per cent failed to back Sir John's re-election at its annual general meeting.

The rebel shareholders were led by institutional investor the Ontario Teachers' Pension Plan (OTPP), which called for a board shake-up to address "strategic weaknesses".

But since then Vodafone has pleased investors by selling minority stakes in Chinese and Japanese mobile operators.

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Vodafone has always stressed the hunt for Sir John's successor started in February - before the shareholders' intervention.

Sir John said: "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."