end of an era vodafone Spain. Telecom’s non-executive chairman, Antonio Coimbrawill not renew his position and will leave the company after more than ten years At the top of the Spanish subsidiary. The executive will leave the group on September 30 to “start a new cycle in his professional career” and will become the company’s new CEO from then on. Mário Vaz will take on both tasks.
Coimbra served as CEO of Vodafone Spain from 2012 to 2020 and has been president of the company since January 2018. Over the last three years, the company’s presidency has had no executive power, and that power has fallen to successive CEOs, notably Colman Deegan and since this year Mário Vaz. itself.
Handover coincides with Vodafone Group’s decision initiate a “strategic review” process that may result in the sale of the subsidiary in whole or in part Spanish. The company is exploring different alternatives to respond to the fierce competition in the Spanish market and the drop in revenue driven by low-cost operators.
“Antonio Coimbra did something decisive contribution In a time of change and transformation with bold vision and determination, the Spanish business community strong leadership “To compete in the ultra-fast fiber business, converged services and TV,” said Mário Vaz, CEO of Vodafone Spain. “Throughout these years, he has overcome numerous challenges as a result of his strategic vision, leadership capacity and management of individual and collective talents.”
Reinventing without football on TV
During his tenure as CEO, Coimbra was responsible for the true reinvention of Vodafone Spain. During his management tenure in the company withdrew football from pay television offer because it was not profitable In accordance with the current regulation, completely adhering to other products such as movies and TV series; Created and maximized the low-cost Lowi brand; It launched 5G services before anyone else… and also reorganized the company after massive workforce cuts at ERE.
That same year, Vodafone chose the man of the house—Mário Vaz, CEO of the Portuguese subsidiary since 2012—as the new CEO to restart the business of its subsidiary in Spain, which is experiencing continued revenue declines due to the boom in low revenues. cost bearers. The company stressed that its Spanish subsidiary has managed to contain revenue declines accumulated in previous years in recent quarters.