|
Vodafone Group PLC on Wednesday said Hatem Dowidar, the chief executive of a United Arab Emirates-backed telecom group, will join its board from next week Monday. Vodafone said it has received regulatory approvals for the appointment. Back in May, Vodafone and Emirates Telecommunications Group Co PJSC known as e&, of which Dowidar is the CEO, entered into a strategic relationship agreement. At the time, it said Dowidar would join the Vodafone board. e& holds a 14.6% stake in Vodafone. It will be allowed to nominate a second non-executive director who is independent of e& if its shareholding exceeds 20%. In January, the Berkshire, England-based telecommunications company reached an agreement with the UK government, which had voiced national security concerns regarding e&. This came after UK Deputy Prime Minister Oliver Dowden had used new powers to declare national security risks, citing a potential influence to the policy of Vodafone. Vodafone had put in place proportionate measures to address any potential national security concern, the UK Cabinet Office declared in late January. Vodafone Chair Jean-Francois van Boxmeer said Wednesday: Hatem ‘brings extensive experience within the telecommunications industry and has held senior positions across a range of companies in the Middle East, Africa and Europe. His appointment will further strengthen our strategic partnership.’ Vodafone shares were 3.3% to 66.24 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
