LONDON, UK: Vodafone Group Plc introduced that Nick Read has agreed with the Board that he’ll step down as Group Chief Executive and as a Director of Vodafone on 31 December 2022, following which he’ll be available as an adviser to the Board till 31 March 2023.
Margherita Della Valle has been appointed interim Group Chief Executive. She will speed up the execution of the Company’s technique to enhance operational efficiency and ship shareholder value. In addition to being appointed interim Group Chief Executive, Margherita Della Valle will additionally proceed as Group Chief Financial Officer. The Board has initiated a course of to discover a brand new Group Chief Executive.
Jean-François van Boxmeer, Chairman of Vodafone, said: “On behalf of the Board, I would like to thank Nick for his dedication and significant contribution to Vodafone as Group Chief Executive and all through his profession spanning greater than two decades with the Company.
During his 4 years as CEO, he led Vodafone through the pandemic, ensuring that our customers remained connected with their households and businesses. He has focused Vodafone in Europe and Africa as a converged connectivity supplier and led the industry in Europe in unlocking worth from tower infrastructure.
Margherita Dela Valle has recently been taking a broader operational role inside the Company and the Board fully helps her as interim Group Chief Executive.”
Nick Read, Group Chief Executive said: “It has been a privilege to spend over 20 years of my profession at Vodafone and I am proud of what we have delivered for customers and society throughout Europe and Africa. I agreed with the Board that now is the proper second to hand over to a brand new chief who can construct on Vodafone’s strengths and seize the numerous alternatives ahead”.