Vodafone calls on CFO Nick Read to serve as CEO

Vodafone calls on CFO Nick Read to serve as CEO

Kerry Wise
May 15, 2018

As a result, Read will be named as group chief-executive designate at the telecoms giant's annual general meeting on 27 July - presaging a period of transition at the top.

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.

Read was appointed CFO and joined the Vodafone board in April 2014.

"Nick has been the co-architect of the Group's strategy together with Vittorio, combining extensive worldwide operational and commercial leadership with world-class financial acumen", Gerard Kleisterlee, Chairman of Vodagone Group Plc, said in a statement. Vittorio will leave as his legacy a company of great integrity with strong inclusive values that is exceptionally well-positioned for the...

"Nick has been the co-architect of the group's strategy together with Vittorio, combining extensive global operational and commercial leadership with world-class financial acumen", said Kleisterlee.

"Margherita has a strong track record in financial leadership at the highest levels, and I am delighted to welcome her to the board".

Vittorio Colao, the current CEO of Vodafone Group Plc, will be leaving the role behind come October 1, 2018.

Taylor Swift visits 8-year-old burns girl
The note stated that Taylor hopes Isabella feels better soon and that she was honored she has been listening to her music. Isabella was gobsmacked when Taylor appeared in front of her. "They hugged and it was so heartfelt".

Last week Vodafone struck a $21.8 billion deal to buy Liberty Global's cable TV and broadband networks in Germany and other markets to strengthen its business in Europe, where 35 percent of its proforma revenue came from fixed line past year.

Colao will be replaced by Vodafone's finance director since 2014, Nick Read whose wealth of global experience made him a likely candidate for the position.

"Our sustained investment in network quality supported robust commercial momentum", he added.

There doesn't seem to be any juicy gossip behind the move, he has presumably just made a decision to spend more time with his cash, having spent a decade in charge.

That deal was only announced last Wednesday, and if approved by competition authorities, will see Vodafone take control of Liberty Global's operations in Germany, the Czech Republic, Hungary, and Romania. "It is the right time.to start with a new dedicated management team".

Vodafone's results showed underlying earnings - the company's preferred profit measure - rose 12 per cent on an organic basis to €14.7 billion, ahead of the company's guidance of 10 per cent organic growth.

"I think now is the time to really focus on our organic plan, really focusing on digital transformation of our business and the customer experience".