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Vodafone's Sir John Bond to chair Xstrata

By BFN News | 08:33 AM | Monday 07 March, 2011

Mining group Xstrata plc has named Vodafone's Sir John Bond as its next chairman, following Willy Strothotte's decision to retire after the May 4 AGM. Strothotte has chaired Xstrata since its IPO in 2002. Bond will join Xstrata's board as a consultant with immediate effect and will take over as chairman at the end of the AGM. He is currently chairman of Vodafone Group plc and will step down from its board on July 26. David Rough, deputy chairman of Xstrata, said, 'Sir John Bond has an exceptional record of shareholder value creation in his distinguished career, during which he has successfully chaired two major international companies, HSBC and Vodafone, and gained unrivalled experience in the world's emerging Asian economies. 'I have every confidence that Sir John will make a significant contribution to the Xstrata board and the ongoing success of the group.' Shares were down 5.5p at 1419.5p. Story provided by