Find out who will replace him
Just a week after striking a $21.8bn deal to buy Liberty Global’s cable TV and broadband networks in Germany and Eastern Europe, Vodafone today announced that its chief executive Vittorio Colao will step down in October after 10 years.
Following the news, shares in Vodafone fell almost 4 per cent.
Colao will be replaced by Nick Read, finance director since 2014 and long seen as his successor due to his previous roles running Vodafone’s operations around the world.
“Today Vodafone is at a natural juncture, the strategic 10 -year reshaping of the group is now nearing completion,” Colao, 56, told reporters. “Nick has been the core architect of Vodafone strategy for much of my tenure.”