Search the Internet          Tips  Sites: Finance, Investment

Arun Sarin to be next Vodafone CEO

Arun Sarin, an erstwhile graduate from the Indian Institute of Technology, has been chosen as the next chief executive of Vodafone Group Plc with a base salary of pound 1.1 million per annum.

Announcing the appointment in London on Wednesday, Lord MacLaurin, chairman of the company said 48-year-old Sarin, presently chief executive of Accel-KKR Telecom based in San Francisco, will succeed Sir Christopher Gent.

A spokesman of the company told PTI that Sarin, who is currently a non-executive director of Vodafone, Charles Schwab Corp, Cisco Systems and Gap Inc, will join the executive committee of Vodafone on April 1, 2003 as chief executive designate.

Lord MacLaurin said: "This appointment is part of a carefully orchestrated succession plan which I have put in place at Vodafone. Chris has contributed a huge amount of time and energy to the company and it is a testament to his achievements that Vodafone is now positioned as the global leader in mobile telecommunications. Chris will continue to lead Vodafone until July next year.

"I am delighted that Arun Sarin has made the commitment to take the group forward to the next phase of growth, and that we have identified an individual with the ability, stature and knowledge of Vodafone which make him the ideal person for this role."

Sarin will relocate to the UK. His package has a base salary of pound 1.1 million and incentives which have the same structure and quantum as those currently applying to Sir Christopher Gent, the spokesman said.

ALSO READ:
More Money Headlines