Vodafone Group Plc Vantage Towers: Nomination of Independent Chairman (0256B)
05 October 2020 - 5:00PM
UK Regulatory
TIDMVOD
RNS Number : 0256B
Vodafone Group Plc
05 October 2020
5 October 2020
Vodafone Group Plc Vantage Towers
NOMINATION OF RÜDIGER GRUBE AS INDEPENDENT CHAIRMAN OF THE
SUPERVISORY BOARD
Vantage Towers, Europe's leading tower infrastructure operator,
today announces the nomination of Rüdiger Grube as independent
Chairman of the Supervisory Board, in preparation for its IPO in
early 2021. Dr. Grube will join the Supervisory Board and become
Chairman upon formal election and nomination, in advance of the
IPO.
Vantage Towers will be Europe's largest and most geographically
diversified tower infrastructure company, with over 68,000 sites
across nine markets. It will have a controlling interest in eight
markets - Germany, Spain, Greece, Portugal, Czech Republic,
Romania, Hungary and Ireland - and co-control of INWIT (33.2%
equity stake) in Italy, with the potential to include Vodafone
Group Plc's ("Vodafone") 50% equity stake in Cornerstone
Telecommunications Infrastructure Limited (UK), which it
co-controls with Telefonica.
Rüdiger Grube brings over 30 years of international executive
and non-executive Board experience. He previously had a long career
at Daimler across a variety of roles, was CEO of Deutsche Bahn, and
was Chairman and non-executive Director of Airbus. Dr. Grube is
currently Chairman of the Supervisory Board of Vossloh and Chairman
of the Supervisory Board of Hamburger Hafen und Logistik. He is
excited to be nominated as Chairman of the Supervisory Board of
Vantage Towers, and is committed to dedicating appropriate time and
focus to this role.
Dr. Grube is recognised for his deep experience in
capital-intensive infrastructure and service based industries, his
extensive business and political engagements in Europe, and his
track record in significant stakeholder relationship
management.
Vodafone is committed to strong corporate governance at Vantage
Towers and assembling an experienced Supervisory Board - with
appropriate independent representation, including an independent
Chairman - are important steps in this process. Further independent
members of the Vantage Towers Supervisory Board will be announced
in due course, ensuring the Supervisory Board is in place well
ahead of IPO.
Nick Read, Vodafone Chief Executive, commented: "I am delighted
that Rüdiger Grube has agreed to become the independent Chairman of
the Supervisory Board of Vantage Towers, where his significant
international executive and non-executive experience will be a
valuable asset to the business. This milestone represents a further
important step in our creation of Europe's leading tower
infrastructure company as we prepare Vantage Towers for an IPO in
early 2021 and unlock value for our shareholders."
Vivek Badrinath, Vantage Towers Chief Executive, commented: "I
am very pleased that Rüdiger Grube has been nominated to chair the
Supervisory Board. I look forward to working with him and the wider
Supervisory Board to drive our strategy to enable Europe's digital
transformation and to benefit from the attractive long-term trends
delivering growth and value opportunities across each of our
markets."
Rüdiger Grube commented: "I am excited to be nominated the
independent Chairman of the Supervisory Board of Vantage Towers, a
market leading business with excellent prospects from being one of
Europe's leading digital enablers. I am looking forward to working
with Vivek and his team to deliver both a successful IPO and to
capture the structural growth opportunities from mobile coverage
obligations and increasing end-user demand for data."
- ends -
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Berkshire RG14 2FN, England. Registered in England No. 1833679
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