Vodafone promotes CFO Read to succeed Colao as CEO

Tuesday 15 May 2018 | 08:16 CET | News

Vodafone Group has announced CEO Vittorio Colao is stepping down from October and will be succeeded by CFO Nick Read. From the group's AGM in June already, Read will become CEO designate, while deputy CFO Margherita Della Valle will become group CFO and join the board of directors. Vodafone said the appointments followed an internal and external search for candidates. 

Colao steps down after just over 10 years in the job, during which he has transformed Vodafone from a pure mobile player into a converged operator owning multiple cable and fibre networks. The mobile customer base doubled from 269 million to 536 million during his tenure, and the company added nearly 20 million broadband customers. 

Read has been CFO since April 2014 and was previously CEO for the Africa, Middle East and Asia Pacific region. He also served on the boards of Vodacom Group and Vodafone India. He joined Vodafone in 2001 as Vodafone UK Finance Director before being appointed Vodafone UK Chief Commercial Officer then Vodafone UK CEO. Prior to joining Vodafone, Read held senior finance positions with United Business Media and Federal Express Worldwide. 

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Categories: General
Companies: Vodacom / Vodafone / Vodafone Group / Vodafone India / Vodafone UK
Countries: World
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