May 15, 2018

Vodafone boss Vittorio Colao to step down

Vodafone's chief executive Vittorio Colao is to leave the mobile phone giant in October after 10 years at the helm. He will be replaced by current finance director Nick Read. The announcement came as Vodafone reported an annual profit of €2.8bn, compared with a loss of €6.1bn last year when it wrote down the value of its Indian business. Mr Colao said it had been a "Real privilege" to lead Vodafone. Last week, Vodafone paid €18.4bn to buy Liberty Global's cable TV and broadband networks in Germany and Eastern Europe. "Vodafone's chairman, Gerard Kleisterlee, said:"On behalf of the board, I would like to express our gratitude to Vittorio for an outstanding tenure.

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