Mobile phone giant Vodafone has named the boss of HSBC bank Sir John Bond as its chairman elect. Vodafone said Sir John would be replacing Lord MacLaurin of Knebworth when he retires at its annual meeting in July.
Sir John announced last week he was leaving HSBC after 45 years with the UK's second largest company.
Lord MacLaurin will stay on as an adviser to Vodafone after he retires from the board.
"Ian MacLaurin has made a huge contribution to the success of Vodafone," said Arun Sarin, chief executive of Vodafone.
"He has been an outstanding chairman and has overseen the transition of the business from a UK operator to a major global company."
Sir John joined HSBC in 1961 and worked in Asia for 25 years and the US before moving to London in 1993.
He then took on the role of chief executive of HSBC Holdings before being appointed chairman in 1998.
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Profile: Sir John Bond