MacLaurin to stay at Vodafone helm

VODAFONE chairman Lord MacLaurin of Knebworth intends to remain at the helm of the telecoms giant for at least three years, the Daily Mail has revealed.

City speculation has been mounting that MacLaurin, 66, planned to leave once newly-appointed chief executive Arun Sarin was firmly established. Sarin took over from Sir Christopher Gent, 55, at the end of July.

But it now appears MacLaurin may stay in the £463,000-a-year post until March 2007, when he turns 70, Vodafone's semi-official board retirement age.

Large investors will welcome MacLaurin's plans as ensuring stability at one of Britain's most important companies. The former Tesco chairman joined Vodafone in 1997.

Sources say those who had been in the frame for the chairman's job had included Marks & Spencer chairman Luc Vandevelde, who joined the Vodafone board in September, Penny Hughes, a director at media group Trinity-Mirror, and former BP finance boss Dr John Buchanan.

But now these may simply be the leading contenders to replace MacLaurin should he become incapacitated. Executives throughout Vodafone are required to have such an understudy.

Sarin has made a strong debut since July. He has mopped up minority shares in overseas ventures and consolidated Vodafone's position in the UK with the acquisition of mobile bill senders Project Telecom and Singlepoint.