Vodafone’s CEO announces his departure less than a week after making $22 billion deal with ‘cable cowboy’ John Malone

Vittorio ColaoReuters/Denis Balibouse

  • Long-serving Vodafone CEO Vittorio Colao is to step down in October this year.
  • He will be succeeded by the telecoms firm’s current chief financial officer, Nick Read.
  • The announcement of Colao’s departure comes less than a week after Vodafone announced a $ 22 billion deal with Liberty Global.

LONDON —Vodafone announced on Tuesday that long-serving CEO Vittorio Colao will step down later this year.

Colao, who has been at the helm of the British-based firm for a decade, will stand down in October and will be replaced by Nick Read, Vodafone’s current finance director. No reason was given for Colao’s departure.

See the rest of the story at Business Insider

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SEE ALSO: Billionaire ‘cable cowboy’ John Malone’s Liberty Global is selling $ 22 billion of European assets to Vodafone

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