A leading investor group is calling for a board shake-up at Vodafone because of concerns about the mobile operator’s “strategic weaknesses” and “disastrous” acquisitions record, the Financial Times writes. Ontario Teachers’ Pension Plan, which has a 0.42 percent stake in Vodafone, will vote against the re-election of John Bond as the company’s chairman and John Buchanan as Vodafone’s deputy chairman at its annual meeting on 27 July, although OTTP expressed support for CEO Vittorio Colao. Noting that Bond has been chairman since 2006, OTTP said: “For at least the last five years, the company has had significant structural and strategic weaknesses, resulting in Vodafone trading at a substantial, persistent discount to its asset value.” After talking with the management and some board members, the investor said it would like to see a “board rejuvenation” in order to kickstart the company’s restructuring. Separately, the Times reports similar concerns among Vodafoen investors. The paper quoted ‘one of the company’s biggest institutional shareholders’ as saying “Something has got to give. It’s a large, reasonably dysfunctional board and, clearly, strategically the company is not delivering. The chairman is under a lot of pressure. The strategy is his responsibility and he is a highly paid individual. Our perception is that [CEO] Vittorio [Colao] is doing quite a good job. I wonder whether he is keener to move more quickly and has not got the free hand that he requires. The issues are building.” Vodafone will issue a trading statement on 22 July.