Vodafone gives corporate merry go-round a spin
Non-exec board member: nice work if you can get it
Vodafone is to fiddle with its top brass this summer. Paul Hazen, the firm's deputy chairman and top non-executive member of the board will retire to be replaced by a promoted John Buchanan.
Hazen has been on the operator's board since 1999.
Buchanan, meanwhile, retired as CFO from oil giant BP in 2002. He also serves as a non-exec for drug companies Smith and Nephew and biotech AstraZeneca.
Also departing is another non-exec director, Penny Hughes. Vodafone chairman Lord MacLaurin of Knebworth gushed: "Penny Hughes has been a fine, active non-executive director and did an exceptional job for Vodafone when chairing our Remuneration Committee."
MacLaurin was paid £517,000 last year and will get £125,000 as a consultant when he too steps down, to be succeeded by Sir John Bond.
The changes will all come into effect after the AGM on 25 July. ®