TIL Desk/Business/London/New Delhi/ British telecom major Vodafone said today that Nick Read will be the next CEO of the company, succeeding Vittorio Colao. Read, currently the group’s CFO, will take over from October 1. “Effective 1 October 2018, Vittorio Colao will be succeeded by Group Chief Financial Officer Nick Read,” Vodafone said in a statement.
“At the date of the Group’s Annual General Meeting on 27 July 2018, Deputy CFO Margherita Della Valle will succeed Nick Read as Group Chief Financial Officer and will join the Board, and Nick Read will become Group Chief Executive-Designate,” it said. Colao was appointed Group Chief Executive in July 2008.
Vodafone said that over the last ten years, he has overseen a strategic reshaping of the group, exiting minority shareholdings to focus on controlled and co-controlled assets while growing mobile customer numbers from 269 million to 536 million (plus 19.7 million broadband customers) over 25 countries, including significant businesses in India, Egypt, Turkey and across Africa, Vodafone said.
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