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E&’s CEO Hatem Dowidar joins Vodafone’s board
Global Banking & Finance Review®
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LONDON (Reuters) – The chief executive of Abu Dhabi telecoms group E&, Hatem Dowidar, will join Vodafone’s board later this month as a non-executive director after the British company said it had received the necessary regulatory approvals.
LONDON (Reuters) – The chief executive of Abu Dhabi telecoms group E&, Hatem Dowidar, will join Vodafone’s board later this month as a non-executive director after the British company said it had received the necessary regulatory approvals.
E& is Vodafone’s biggest shareholder, with a 14.6% stake, and the two companies formed a strategic agreement in May, which included a board seat for Dowidar.
Britain said last month that E&’s stake in Vodafone posed national security risks in terms of government contracts and cyber security, but it was satisfied with the steps taken to alleviate its concerns.
Dowidar said on Wednesday he looked forward to joining Vodafone’s board to “support the rapid transformation being undertaken by (chief executive) Margherita Della Valle and the management team”.
(Reporting by Paul Sandle; editing by James Davey)
A non-executive director is a member of a company's board who does not engage in the day-to-day operations of the company. They provide independent oversight and contribute to strategic decision-making.
Regulatory approval is the authorization granted by a governing body or regulatory authority allowing a company to proceed with a specific action, such as a merger, acquisition, or investment.
A shareholder is an individual or entity that owns shares in a company, representing a claim on part of the company's assets and earnings.
National security risk refers to potential threats that could undermine a country's safety and stability, often related to foreign investments or ownership of critical infrastructure.
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