Nick Read will be stepping down as CEO of the Vodafone Group from end December, replaced by Margherita Della Valle on an interim basis. “I agreed with the Board that now is the right moment to hand over to a new leader who can build on Vodafone’s strengths and capture the significant opportunities ahead,” Read said.
The company said the interim executive will focus on improving Vodafone’s operational performance and delivering shareholder value. Della Valle will also continue with her duties as CFO.
A search has begun for a new CEO. Read, who has held the top job for just over four years, will stay on as advisor to the board until end March.
Telecompaper
