95 Vodafone Group Plc Annual Report 2024
Strategic report
Governance
Financials
Other information
Technology committee The role of the Technology Committee is to support the Board by providing expert oversight and monitoring of the Group’s technology strategy, as well as assessing technology risks, understanding resource and talent requirements, and exploring new innovations that may enable future growth. Chair Simon Segars Members Deborah Kerr – Oversee, monitor and challenge the Group’s technology strategy. – Review long term technology plans and budgets including capital investment, resourcing, skills and prioritisation. – Understand future technology developments, industry trends and technology innovation that may impact the company strategy. – Review technology risks, disruptors and mitigations. – Participate in deep dives into particular topics, innovations or plans. – Assess whether the technology strategy is consistent and enabling the overall company strategy. – Review technology strengths, weaknesses, opportunities and threats with executive management to oversee actions being taken in each area. This will include a focus on disruptors and risks that could adversely impact the strategy. Delphine Ernotte Cunci Stephen A. Carter CBE Key responsibilities The responsibilities of the Committee are to: – Review significant transformation and technology programmes. – Review technology supply chain, partnerships and external relationships that underpin the strategy. Letter from Committee Chair On behalf of the Board, I am pleased to present Vodafone’s Technology Committee Report for the year ended 31 March 2024. The Committee was established in 2023 with the founding members bringing a wide range of experience across domains that relate to technology and strategy. This year, the Committee met three times, in July 2023, November 2023 and January 2024. Each meeting agenda included a range of topics across the Committee’s areas of responsibility. An important objective of the Committee is to provide external perspectives and challenge into the technology strategy and direction. Furthermore, topics reviewed during Committee meetings in 2023/2024 on key areas such as future network strategy, Internet of Things ecosystem, Artificial Intelligence (‘AI’) and how technology strategy underpins the company strategy, have enabled Committee members to lead and support broader technical discussions with the main Plc Board. I have reported this year’s Committee work to the Board and I am looking forward to the next year chairing the Committee, starting with the next meeting in May 2024. Simon Segars On behalf of the Technology Committee 14 May 2024
Click or scan to watch the Chair of the Technology Committee explain his role: investors.vodafone.com/videos
Focus during the year The Technology Committee met with senior leaders of the technology team including the Chief Technology Officer, Chief Network Officer and others on three occasions during the year ended 31 March 2024. The following provides a summary of the topics covered. July 2023 In the first meeting the proposed terms of reference were reviewed and approved. The objective of this session was to set the foundation and context for future discussion and deep dive topics that directly support Vodafone’s technology strategy and vision. Vodafone’s approach to technology strategy development and its operating model were explained. The Committee discussed Vodafone’s five-year technology strategy and individual workstreams. 5G network deployment and the development of global platforms were particular areas of focus. Cyber security was also discussed, with the Committee reflecting on the changing business, technology, and threat landscape. November 2023 This session included deep dives on a range of topics including the prioritisation process that drives execution of the technology strategy and its links to the company’s annual planning cycle. We discussed how strategy and plans are shaped to address regulatory changes, macro-economic and geopolitical factors. A digital and IT presentation focused on customer experience and service as well as global platforms. January 2024 In January this year, we explored how the technology team is supporting Vodafone Business’ growth ambitions over the next five years, including target outcomes. Our IoT portfolio and underlying technologies were also discussed, including the future investment roadmap for key products. Priorities, delivery targets and outcomes for FY25 were discussed with the Committee with focus on direct contribution to company priorities around Customer, Simplicity and Growth. Finally, the Committee were briefed on Vodafone’s AI, Machine Learning and Generative AI capabilities and partnerships ahead of a deep dive scheduled for May 2024. Key focus for the next year Next year we expect to continue to look at existing and new technologies that drive innovation, company strategy and growth, focusing on how technology enables customer service and builds trust. Strategy discussions will consider how we manage both opportunities and risks.
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