Vodafone's Vittorio Colao to step down in October
Vodafone's Vittorio Colao to step down in October. Vodafone Chief Executive Vittorio Colao will step down in October after 10 years in which he reshaped the world's second largest mobile operator into a digital communications powerhouse with a string of major deals.
Just last week Colao, 56, struck a long-expected $21.8B deal to buy Liberty Global's cable TV and broadband networks in Germany and Eastern Europe. But he will be best remembered for one of the world's biggest deals - the $130B sale of its joint venture holding with U.S. group Verizon. Read more here.
Colao will be replaced by Nick Read, finance director since 2014 and long seen as the likely successor due to his role in running Vodafone's operations in Britain and the Africa, Middle East and Asia Pacific region.
He will take charge of a group that, under Colao, pulled back from its once brazen expansionist drive to be able to build up its European operations from a pure mobile player to a broader communications provider that offers everything from cable TV to broadband and enterprise services.
Just last week Colao, 56, struck a long-expected $21.8 billion deal to buy Liberty Global's cable TV and broadband networks in Germany and Eastern Europe.
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