Vodafone announced changes to its organisational structure including some new appointments which will be effective from 1 May
April 6, 2006
NEWBURY, U.K. -- Vodafone Group Plc ("Vodafone") today announces changes to its organisational structure including some new appointments which will be effective from 1 May.
The overall objective of the new structure is to focus the business according to different market and customer requirements. There are
To drive operational benefits and cost reduction from local and regional scale in more mature markets
To drive profitable growth from the company's emerging market portfolio
To position the company to capture new revenue streams by extending its reach into converged and IP services
As a result, the operations of the Group will be managed through three new business units:
Europe
The CEO of this unit will be Bill Morrow, currently President of Vodafone's business in Japan. It will contain all Vodafone's principal European markets including Germany, Italy, Spain and the UK. Given the high penetration levels and competitive nature of these markets the unit will focus on leveraging its unique regional scale and reducing costs. This unit will also include the global technology and marketing functions. With the increased focus on operational efficiency, Tim Miles will move from his role as Chief Executive of Vodafone UK to become Chief Technology Officer. He will be succeeded by Nick Read, currently Chief Commercial Officer in Vodafone UK. In addition Frank Rovekamp has been appointed Chief Marketing Officer.
Central Europe, Middle East, Asia Pacific and Affiliates The CEO of this unit will be Paul Donovan, currently Chief Executive of OVS (Other Vodafone Subsidiaries), and will contain the Group's Emerging Markets and other Vodafone operations. It will have a particular focus on profitable growth in emerging markets. These are grouped into three clusters to maximise the benefits of regional focus. This unit will also include the Group's joint ventures, affiliates and investments. Notably, Verizon Wireless, China Mobile, Vodacom and SFR. The key focus will be on maximising performance and increasing, where possible, the benefits of being part of the Vodafone Group.
New Businesses and Innovation
This unit will be led by Thomas Geitner as CEO. He is currently the Company's Chief Technology Officer and an Executive Director. This unit will focus on converged and IP services in order to deliver new revenue streams as Vodafone seeks to provide innovative services to its customers.
Commenting on today's announcement, the Group Chief Executive Arun Sarin said: "This new structure is an important step forward for the Group as it is aligned with our evolving strategy and addresses the different priorities across the Group. It will enable us to continue to outperform our competitors as the changes deliver a streamlined and simple structure with a clear focus. By creating three new business units, and with an increased focus on costs, we are reflecting the different approaches that will be required to continue to succeed, both in terms of our existing operations and in capturing new revenue streams for the future".
Vodafone Group plc (NYSE: VOD)
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