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Nick Read to succeed Vittorio Colao as Vodafone Group CEO

Press Trust of India  |  London/New Delhi 

said today that will be the next of the company, succeeding

Read, currently the group's CFO, will take over from October 1.

"Effective 1 October 2018, will be succeeded by Financial Officer Nick Read," said in a statement.

"At the date of the Group's Meeting on 27 July 2018, Valle will succeed as Financial Officer and will join the Board, and will become Executive-Designate," it said.

was appointed in July 2008.

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 customers) over 25 countries, including significant businesses in India, Egypt, and across Africa, Vodafone said.

Read was appointed the group's and joined the Board in April 2014. He was previously the Group's for the Africa, and region and served as a of a number of Vodafone's emerging including and Vodafone

Read joined Vodafone in 2001 as Finance Director before being appointed then Prior to joining Vodafone, Nick Read held senior global with United Media Plc and He is a Fellow with a BA (Hons) in Accounting and Finance.

Valle was appointed Deputy in 2015. She was previously Group Chief Financial Controller, Chief Financial Officer for the region, 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 said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 13:10 IST