Money Colao to step down from Vodafone after 10 years in charge

12:45  15 may  2018
12:45  15 may  2018 Source:   news.sky.com

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After five years at the helm of the world's largest phone company, Arun Sarin is leaving his CEO spot at Vodafone at the ripe old age of 53. His #2, Vittorio Colao , the current Regional CEO of Southern Europe, Middle East and Africa for Vodafone , will be taking the top spot

After five years of leading Vodafone , Arun Sarin is to hand over the reins to his current deputy, Vittorio Colao , at the end of July. Videos. Smart Cities. Windows 10 . Cloud. Innovation.

Vodafone shares are listed on the FTSE 100 but it reports financial results in euros. Pic: Vodafone © Other Vodafone shares are listed on the FTSE 100 but it reports financial results in euros. Pic: Vodafone

Vodafone's chief executive Vittorio Colao will step down on October 1 after more than 10 years in charge of the world's second-largest mobile phone company.

Nick Read, group chief financial officer, will replace Mr. Colao as chief executive designate from July 27.

Vodafone group chairman Gerard Kleisterlee said: "I would like to express our gratitude to Vittorio for an outstanding tenure.

Vodafone Chief Executive Vittorio Colao © Reuters Vodafone Chief Executive Vittorio Colao

"He has been an exemplary leader and strategic visionary who has overseen a dramatic transformation of Vodafone into a global pacesetter in converged communications, ready for the Gigabit future.

Colao's decision to step down from the top job came as the company reported a profit of 2.8bn euros (£2.5bn) for the year to March 31. A year ago, it made a loss of 6.1bn euros (£5.4bn).

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O'Neill believes Celtic can conquer Europe .
Martin O’Neill believes Celtic have what it takes to achieve European success under Brendan Rodgers. The ex-Celtic boss managed to lead the Hoops into a UEFA Cup final 15 years ago where they lost in extra time. Celtic are still celebrating winning another treble after they beat Motherwell in the Scottish Cup final. Speaking to the Herald, O’Neill also spoke about the prospect of an improved Rangers side benefiting Celtic and their bid to make a mark in Europe. “I think getting to a European final can be done again. I don’t think it’s impossible.” “Brendan is dominating Scottish football just now and Celtic have been very strong. The next step now is to try to achieve success in Europe.” “Hopefully those days are not gone and it would be nice, imagine me saying this, if Rangers could get stronger. That seems as if it might be on the cards and a good, strong Rangers is good for the league.” “And actually, it will benefit Celtic to get stronger in Europe. Why? Well, Celtic don’t rest on their laurels in Scotland but if the competition gets stronger, they will rise to it.” “If Rangers are in a position to delve into the transfer market and get some decent players, it will be a reminder to Celtic. They are dominating the league and are very strong. In Brendan’s time, they have not been casual at all.” “They have won six competitions but I think he would welcome it too. Personally, I think Steven Gerrard is a really good appointment.

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