PeterKay
Joined: Jul 08, 2003
Posts: > 500
From: The Ummah
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Vodafone's chief marketing officer, Peter Bamford, is to part company with the firm as part of a wider shake-up at the UK mobile phone giant.
Mr Bamford "has been given notice to leave in accordance with his contract," a Vodafone spokesman said.
Vodafone did not name a successor to Mr Bamford, but his departure will add to rumours of boardroom rifts at the firm.
Last week Vodafone said it was in talks about selling its struggling Japanese phone business.
And last month it warned its assets were overvalued by as much as £28bn, as it faces slowing revenue growth.
Shares in the company fell to a three-year low following February's announcement.
Boardroom changes
Mr Bamford's departure is likely to fuel rumours of a boardroom differences between chief executive Arun Sarin and former chief executive Sir Christopher Gent, who holds the title of Vodafone's life president.
"It has been a bit of out-with-the-old and in-with-the-new recently (at Vodafone) in terms of directors. Here is another old crew guy going," said Dresdner Kleinwort Wasserstein analyst Robert Grindle.
Other boardroom exits include former finance director Ken Hydon, as well as deputy chief executive Julian Horn-Smith.
Meanwhile, chairman Ian MacLaurin is stepping down in July to be replaced by HSBC chairman Sir John Bond.
Vodafone said the firm's global consumer marketing director, Frank Rovekamp, would temporarily take over Mr Bamford's duties.
Taken from BBC NEWS
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Posted: 2006-03-09 10:02
