Corporate Governance in Vodafone Group PLC
This report discusses and examines critically the issues of corporate governance in the company headed above 1.1 Objectives:
I. Review the corporate governance approach in Vodafone Group II. Compare the current corporate governance issues to the UK corporate governance Code. 1.2 Background:
Vodafone is one of the biggest telecommunication companies in UK and the world. It is a British multinational company and was established in 1st January 1985 as a small mobile operator in Newbury, and now it is operating in more than 30 countries and in partnership with networks in over 40 more with about 360million customers all over the world (Online Vodafone, 2014). 2. Corporate Governance of the Company:
2.1 Composition of the Board of Directors:
2.1.1 Board Structure:
The company running by 13 people in the board of directors as in (http://www.vodafone.com/content/index/about/about-us/board.html): I. Gerard Kleisterlee , Chairman
II. Vittorio Colao, Chief Executive
III. Nick Read, Chief Financial Officer
IV. Sir Crispin Davis, Non-executive Director
V. Dame Clara Furse DBE, Non-executive Director
VI. Val Gooding, Non-executive Director
VII. Renee James, Non-executive Director
VIII. Samuel Jonah, Non-executive Director
IX. Omid Kordestani. Non-executive Director
X. Nick Land, Non-executive Director
XI. Stephen Pusey, Chief Technology Officer
XII. Luc Vandevelde, Senior Independent Director
XIII. Philip Yea, Non-executive Director
i. Gerard Kleisterlee , Chairman: 68 years old
Education: He was educated at aJesuit-run Canisius College in Nijmegen; he attended the Eindhoven University of Technology. And received an M.B.A. from the University of Pennsylvania's Wharton Business School in 1991 and was awarded an honorary doctorate from the Catholic University of Leuven in 2005. Career life: He firstly joined Philips in 1974 and held several positions before being appointed as Chief Executive Officer of Philips Components division in 1999 and then as an Executive Vice-President in 2000. He retired on 31 March 2011.then he turned out to be the Chairman of Vodafone Group Plc on 26 July 2011 which was previously as a non-executive member of the Board. He was a Director of Dell Inc and has been a non-executive director of the Supervisory Board and member of the Audit Committee of Royal Dutch Shell since November 2010, resigning in October 2013 and also was a member of the Daimler AG Supervisory Board, resigning on 9 April 2014.
ii. Vittorio Colao, Chief Executive: 52 years old
Education: He received a business degree from Bocconi University and an MBA from the Harvard Business School. Career life: He started his career at investment bank Morgan Stanley in London and then worked in McKinsey & Company working on media, telecommunications and industrial goods, with additional responsibility for recruitment (Milan Office), he joined Omnitel Pronto Italia, which later became Vodafone Italy in 1996, and was the Chief Executive for it in 1999,then appointed as a Regional Chief Executive Officer(Southern Europe) for Vodafone Group Plc in 2001 and become a member of the Board in 2002 and also was appointed to the role of Regional Chief Executive Officer(Southern Europe, Middle East and Africa) in 2003. In 2004 he left Vodafone to join RCS Media Group, the leading Italian publishing company as a Chief Executive until he rejoined Vodafone on 9 October 2006 as CEO Europe, and then appointed as a Chief Executive on 29 July 2008. He sits on the International Advisory Board of Bocconi University, Italy and is a Member of the Steering Committee of the European Round Table of Industrialists.
iii. Nick Read, Chief Financial Officer: 50 years old
Education: Fellow of Chartered Management Accountant and a Chartered Global Management Accountant, with a BA (Hons) in Accounting and Finance from Manchester Metropolitan University (1986). Career life: he...
References: Online Vodafone (2014) Available at: http://www.vodafone.co.uk/about-us/company-history (Accessed: 30th October 2014)
Vodafone News release (2014). Vodafone appoints Sir Crispin Davis as a Non-Executive Director. Available at: http://www.vodafone.com/content/index/media/vodafone-group-releases/2014/vodafone-appoints-sir-crispin-davis.html (Accessed: 16 November 2014).
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Encyclopedia of World Biography (http://www.notablebiographies.com/newsmakers2/2004-A-Di/Davis-Crispin.html#ixzz3JGUGijee (no date) (Accessed: 16 November 2014)
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