Vodafone 2013 Annual Report Download - page 14
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Chairman’s statement
Summary of key points
Our strategy is to deliver individuals and
companies the seamless internet experience
they will increasingly demand, irrespective
of technology or platform.
We have strength in depth in the management
team and a Board comprising business leaders
with a wide range of expertise.
We want to broaden that experience further,
while achieving a greater gender balance.
Strong returns to shareholders with total
dividends for the year of 10.19 pence and
£1.6 billion invested in share buybacks.
Total cash returns to shareholders during
the year amounted to £6.4 billion.
Strong business,
strong governance
Gerard Kleisterlee has been Chairmanof Vodafone for
two years. Previously he was CEO of Philips for ten years.
Here he gives his perspectives on Vodafone’s strategy,
the impact of regulation, the role and composition of the
Board, our approach to management and shareholder
remuneration, and Vodafone’s role insociety.
Personal perspectives
In a world that is becoming increasingly digital,
Vodafone’s strategy is to deliver individuals and
companies the seamless internet experience
they will increasingly demand, irrespective
of technology or platform. Our commitment
to providing the leading mobile network
in each of our markets is stronger than ever,
and will be supplemented by increasing
our access to next generation xed line
infrastructure, which provides additional
capability. We have made strong progress
in this respect this year, with over £8.7 billion
invested in spectrum and capex, and the
acquisitions of CWW and TelstraClear.
However, the industry remains severely
constrained by regulatory intervention.
Spectrum auctions are designed to maximise
short-term proceeds at the expense of long-
term investment in service quality and
coverage, and new entrants are articially
supported. I will continue to work closely
with Vittorio, our Group CEO, to engage with
local and regional regulators to construct
a framework which can better combine
investment certainty with suitable
consumer protections.
The role of the Board
An effective Board needs to have the right
balance of knowledge and experience among
the non-executive directors, and to be well
informed on the relevant technological,
regulatory and market developments.
In February 2013 we were delighted
to announce the appointment of Omid
Kordestani to the Board. Omid was one
of Google’s very rst employees, and brings
£6.4bn
Emerging
Markets
Data
Introducing
Vodafone 2015
Consumer
2015
Operations
2015
Network
2015
Enterprise
2015
12 Vodafone Group Plc
Annual Report 2013