Asia and Hutchison hand to exit Vodafone board
5 June 2010
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Extract from Vodafonewatch, issue 2010.05. Click through for: the Executive Brief from this month’s report; the Issue Snapshot; or to contact us for more information about the full 68-page issue, this industry standard monthly report service, and ongoing subscription access.
Asia and Hutchison hand to exit Vodafone board
Vodafone announced that Simon Murray, a non executive Director of the Group, will step down from the board at the conclusion of its annual general meeting (AGM) on 27 July 2010.
Murray — a former Group Managing Director at Hutchison Whampoa — joined Vodafone in July 2007, with the company presumed to be seeking to exploit his Asia Pacific experience to help bed down investments in China, India, and elsewhere in the region, and avoid a recurrence of disappointment in Japan. He also sits on the Group’s executive remuneration committee.
Oddly, the Group’s latest statement regarding Murray was nearly identical to its first, suggesting a lack of application by its corporate communications team, or perhaps even an intentional snub.
” [Murray's] considerable knowledge of mobile telecommunications and his entrepreneurial spirit, coupled with his vast experience of the Asia Pacific region, will be a great asset. ”
– statement on Murray’s appointment, 2007.
” Simon Murray’s considerable knowledge of mobile telecommunications and his entrepreneurial spirit, coupled with his vast experience of the Asia Pacific region, have been a great asset. ”
– statement on Murray’s departure, 2010.
Hutchison ties being cut ahead of developing markets M&A activity?
Vodafonewatch wondered whether Murray’s departure — and the recent exit of ex Vodafone Essar Chief Executive Asim Ghosh, who also has Hutchison ties (Vodafonewatch, 2010.03) — might indicate that some distance is being placed between the two Groups ahead of possible M&A activity, whether friendly or hostile.
Possibilities include a move to buy Hutchison’s 3 operating companies, notably in Italy or the UK, or the remnants of its emerging markets operations, Hutchison Telecommunications International Ltd, from which Hutchison Essar in India was acquired during 2007.
Other previous transactions involving Hutchison include the Group’s acquisition of Mannesmann (2000) and the combination with Hutchison Australia (2009).
Conversely, Vodafone could be planning quite unrelated developing markets M&A activity, and so wish to be distanced from such high profile Hutchison hands. Possibilities here could include tie ups with an Africa, Central Europe, South East Asian, Middle East, or even Nordic group, with Axiata (Asia and India), Cable & Wireless (Caribbean and Europe), Digicel (Asia and Caribbean), Millicom (Asia, Africa and Latin America), mobilkom austria (Central Europe), and Telenor (Asia, Scandinavia, and Central Europe), all springing to mind.
[Further reference: Simon Murray to retire from Vodafone Board -- Vodafone, 14 May 2010.]
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Issue: 2010.05
Covering: May/June 2010
Published: May/June 2010
Next issue: June/July 2010
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