this CEO vodafoneNick Read has agreed with Vodafone Group board that he will leave on 31 December. He has been serving as the senior executive of the multinational since 2018, but will serve as an advisor to the board of directors until March 31, 2023, as announced by the company.
Similarly, Vodafone’s current chief financial officer, Margherita Della Valle, has been appointed as the company’s interim CEO. Vodafone board of directors started the process of finding a new CEO.
“During his four years as CEO, (Read) Managed Vodafone during the pandemic processensuring that our customers stay connected with their families and businesses,” said Jean-François van Boxmeer, President of Vodafone, during this period as the company focused on Europe and Africa as a convergent connectivity provider, as well as the industry leader to derive value from Tower infrastructures.
“I agreed with the Board that it was the right time to hand over Vodafone’s strengths to a new leader who can build on and seize the important opportunities that lie ahead,” said Nick Read.
Vodafone’s share price has dropped more than 40% over the past four years, including a drop of almost 20% in the past twelve months..
British operator a net attributable profit 986 million euros in the first six months of its fiscal year, Turnover between April and September reached €22,930 million, 2% less than the same period last year, 2% above revenue recorded in the first half of last year, including a 1% increase in services, 2% on organic basis, Although it increased by 5, it went up to 19.207 million euros.
For the year as a whole, Vodafone expects to achieve an adjusted gross operating result (Ebitda) of between €15,000 and €15,200 million compared to the previous 2009-2000 range, especially given the worsening global macroeconomic climate with energy costs and broader inflation. . Adjusted free cash flow of approximately 5,100 million, below the previous estimate of approximately 5,300 million, as well as 15,000 and 15,500 million.