Vodafone announced on Monday that Nick Read will step down as executive chairman of the group on December 31 and will remain an advisor to the board until March 31, 2023.
In a statement, the British telecommunications group also announced that Margherita Della Valle, hitherto chief financial officer, has been appointed interim CEO (Chief Executive Officer) of the company.
Della Valle will accelerate the execution of the group’s strategy to improve operational performance and create shareholder value, the statement said.
Vodafone also said that Della Valle will not only be appointed interim CEO of the company, but will also stay on as chief financial officer.
The board of directors has already begun the process of finding a new CEO for the telecommunications giant.
Vodafone president Jean-François van Boxmeer thanked Read in the statement this Monday for “his commitment and important contribution to Vodafone as CEO and throughout his career, which spans more than two decades with the company”.
“During his four years as CEO, [o gestor] has guided Vodafone through the pandemic and kept our customers connected to their families and businesses,” he said.
Van Boxmeer also noted that Read has “focused on Europe and Africa as a provider of converged connectivity and has led the industry in Europe with tremendous value derived from tower infrastructure.”
For his part, Read admitted that “it has been a privilege to spend more than 20 years with Vodafone” and said he was “proud” of the achievements for customers and society across Europe and Africa.
“I agree with management that now is the right time to pass the baton to a new leader who can build on Vodafone’s strengths and seize the significant opportunities ahead,” said Read.
Source: DN
