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    Home » Sections » Telecoms » E& CEO joins Vodafone board

    E& CEO joins Vodafone board

    Vodafone Group said that the CEO of its biggest shareholder will join the board as its Emirati backers gain more sway over the company’s strategy.
    By Thomas Seal11 May 2023
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    Vodafone Group said that the CEO of Emirates Telecommunications Group, its biggest shareholder, will join the board as its Emirati backers gain more sway over the company’s strategy.

    Hatem Dowidar, a former Vodafone executive, will join as a non-executive director for as long as the shareholder, also known as e&, holds at least 14.6% of the stock, Vodafone said Thursday.

    Vodafone and e& also outlined a “strategic relationship” to work more closely together on services, procurement and technology. The Emirates telecoms group bought a 10% stake in Vodafone a year ago and has gradually increased it. Dowidar told investors last week it could increase its stake to 25% to ensure it has influence.

    Read: Vodafone plays it safe, picks insider as new CEO

    If e&’s stake exceeds 20%, it can nominate another non-executive director, Vodafone said in the statement. E& said it won’t exceed a 25% holding.

    Vodafone separately announced on Wednesday that three of its directors would step down. They were all approaching the UK’s nine-year governance limits.  — (c) 2023 Bloomberg LP

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