Arun Sarin to step down as CEO of Vodafone

Vodafone, the world's largest carrier by revenue, is announcing its annual result today. Arun Sarin's deputy Vittorio Colao is likely to replace Sarin, reported the news paper. India -born Sarin played a critical role in acquiring two third stake of India's Hutchison Essar last year.

A Vodafone Essar spokesperson asked to wait for the confirmation of the news till the result is announced in the UK today.