In a statement, Vodafone said: "Effective 1 October 2018, Vittorio Colao will be succeeded by Group Chief Financial Officer Nick Read."
Colao has been very vocal on policy and industry issues arising out of India including high spectrum cost, tariff war, legal tussle with Indian government and regulator.
The 56-year old Italian origin CEO inherited Rs 22,100 crore tax dispute between Vodafone and Indian government for a deal between Hutchinson Essar and Vodafone in 2007 that paved entry of the British telecom operator in India.
In 2012, the Supreme Court of India ruled in favour of Vodafone but government made amendment in tax regime same year and served notice to the British firm again.
Vodafone has challenged the tax notice under Netherlands-India Bilateral Investment Treaty and the matter is currently arbitration.
"We have reshaped India completely," Colao said.
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.
He was previously the Group's Chief Executive for the Africa, Middle East and Asia Pacific region and served as a board member of a number of Vodafone's emerging markets subsidiaries including Vodacom Group and Vodafone India.
"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," Vodafone said.
Valle was appointed Deputy Group Chief Financial Officer in 2015. She was previously Group Chief Financial Controller, Chief Financial Officer for the Europe region, and Chief Financial Officer for Vodafone Italy.
"On behalf of the Board, I would like to express our gratitude to Vittorio for an outstanding tenure. I would also add that the appointment of Nick and Margherita serves as a testament to the strength and depth of the Vodafone senior leadership team that Vittorio has assembled and led over the last decade," Vodafone Group Chairman Gerard Kleisterlee said.
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