Vittorio Colao passes on baton at Vodafone

15 May, 2018, 22:17 | Author: Kim Reid
  • Vodafone

The urbane Colao will be replaced by Nick Read, finance director since 2014, whose broad worldwide experience had marked him out as the likely next leader of a group with 536 million mobile customers and 47 billion euros ($56 billion) in revenue.

At the firm's annual general meeting on July 27, Deputy CFO Margherita Della Valle will succeed Read as CFO and will join the board, while Read will become CEO-designate.

Colao will be replaced by Vodafone's finance director since 2014, Nick Read whose wealth of global experience made him a likely candidate for the position. The mobile customer base doubled from 269 million to 536 million during his tenure, and the company added almost 20 million broadband customers.

His replacement, Read, became Vodafone's CFO in April 2014, having previously worked as the group's chief executive for the Africa, Middle East and Asia Pacific region.

North Korea to Dismantle Nuclear Site Ahead of Trump's Meeting With Kim
However, observers noted that there has been no mention of foreign experts being allowed access to the site. South Korea had no immediate response to the statement.

Vodafone India, country's second-largest telecom operator, reported 18.7 per cent drop in organic service revenues in financial year 2018 as rival Reliance Jio triggered an intensive tariff war, while a dip in interconnection charges also hit revenues.

Following the news, shares in Vodafone fell nearly 4 per cent.

Vodafone Group did not include India business in their financial performance.

"On behalf of the Board, I would like to express our gratitude to Vittorio for an outstanding tenure", said Vodafone Group Chairman Gerard Kleisterlee.

Oops: Gwyneth Paltrow just let slip a massive spoilers for Avengers 4
Iron Man and Captain America had a bit of a falling-out in Captain America: Civil War , and haven't spoken since. For those of you heathens who haven't seen Avengers: Infinity War yet, be warned-there be spoilers hereafter.

The news came as Vodafone announced its results for the year ended March 31, 2018. That is impressive given how much fierce competition, regulation and the growth of messaging services such as Facebook's WhatsApp have dragged on Vodafone and peers in the past decade.

Excluding the negative impact of net roaming declines in Europe, the benefits of settlements in the United Kingdom and Germany and the introduction of handset financing in the United Kingdom, organic adjusted EBITDA grew by 7.9%.

He added: "And we announced last week the acquisition of Liberty Global's cable assets in Germany and Central and Eastern Europe, transforming the Group into Europe's leading next generation network owner and a truly converged challenger to dominant incumbents". A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Vodafone's results showed underlying earnings - the company's preferred profit measure - rose 12 per cent on an organic basis to €14.7 billion, ahead of the company's guidance of 10 per cent organic growth.

Johnson enjoys best ever Players round
Mitchell was the last player in the field, gaining entry on Wednesday when England's Paul Casey withdrew due to a back injury. That's been the story of the TPC Sawgrass over the years - a design that doesn't favor one particular style of play.

Recommended:

  • Facebook says Zuckerberg still won't testify in the UK

    Facebook says Zuckerberg still won't testify in the UK

    Ideally, Facebook's in-person inspections of these hundreds of app-makers will turn up the truth sooner rather than later. But these 200 apps will undoubtedly add to the 87 million users affected by Cambridge Analytica alone.
    Your next pet could be a Boston Dynamics robot

    Your next pet could be a Boston Dynamics robot

    After almost three decades, Boston Dynamics will finally begin selling its robots, beginning with none other than the SpotMini. The video below shows how the SpotMini can autonomously navigate a specified route through an office and lab facility.
    Trump's plan to lower drug prices

    Trump's plan to lower drug prices

    Speaking in Washington on Friday, he said he had directed his top trade negotiator to make the issue a priority in trade talks. Some in the pharmaceutical industry are concerned the proposals may end up restricting consumer access to certain treatments.
  • Lewis Hamilton Wins the 2018 Spanish GP — Twitter Reacts

    Lewis Hamilton Wins the 2018 Spanish GP — Twitter Reacts

    I know that sounds weird but today is definitely I think the closest I've been". "I've not had pole for a while", Hamilton said. How did Mercedes turn it around? He has won more thrilling races in the past and will do so in the future.
    Mahathir says King willing to grant full pardon for Anwar

    Mahathir says King willing to grant full pardon for Anwar

    Mahathir has said he would not go on a witch hunt but that Najib will be brought to court if there was evidence of wrongdoing. It was a major issue in the run-up to the election and played a major role in the ouster of Najib, Mahathir's former protegé.
    Google Play Store gets version 10.0.7 update

    Google Play Store gets version 10.0.7 update

    The app is available on Android, iOS and the web, and anyone is able to use it, all you need is a Google account to sign in. The reminder frequency can be set for every 15 minutes, 30 minutes, 60 minutes, 90 minutes or 180 minutes.
  • Rooney could join MLS club DC United

    Rooney could join MLS club DC United

    Of greater significance, however, is the fact that Rooney seems destined to leave the club for DC United in the summer. Certainly Kenwright has now created sufficient anxiousness amongst administrators to make them rethink.
    'Vomitive. Pathetic': Lars Von Trier film prompts mass walkouts at Cannes

    'Vomitive. Pathetic': Lars Von Trier film prompts mass walkouts at Cannes

    This was von Trier's first trip back to Cannes since he debuted " Melancholia " in 2011. According to a report,"It's disgusting", said one woman as she left the screening .
    Clayne Crawford Responds to 'Lethal Weapon' Firing with Glum Photo

    Clayne Crawford Responds to 'Lethal Weapon' Firing with Glum Photo

    Deadline reported weeks prior that Crawford had been accused by some of his co-workers for creating a "hostile work environment". Another said , "That no official words have been spoken, just rumors spread by the tabloids". "No one gives a s-".
  • 'Jerusalem to Remain Israel's Capital': Netanyahu Urges Others to Follow US Lead

    'Jerusalem to Remain Israel's Capital': Netanyahu Urges Others to Follow US Lead

    On Sunday, scuffles broke out between Israelis and Muslim security officers in the holy compound in east Jerusalem's Old City. Hamas" political chief Ismail Haniya arrives in Cairo to discuss "developments' in Palestine and the region .
    Nine Inch Nails are releasing their new record 'Bad Witch' in June

    Nine Inch Nails are releasing their new record 'Bad Witch' in June

    We've made a decision to try something different that will also likely suck, but in a different way. You can pre-order Bad Witch , along with bundled merchandise, at Nine Inch Nail's web store.
    Georgia officer suspended for traffic stop with 65-year-old grandmother

    Georgia officer suspended for traffic stop with 65-year-old grandmother

    He added that there were aspects of the video that "simply do not represent who we are as an organization". A video shows an officer cursing and forcefully grabbing Rose Campbell on a Georgia highway on Friday.


Popular

Taliban attacks Farah city in west Afghanistan, kills dozens
Provincial governor Basir Salangi said that Taliban attacked Farah city around 2am local time and suffered heavy casualties. The province, which also borders the opium-rich Taliban heartland of Helmand province, has key smuggling routes into Iran.

Cardinals rookie Christian Kirk arrested for criminal damage
Our understanding is that the process will be resolved in the near future", the team said. He was charged with criminal damage and the case is pending.

Western Asset Managed Municipals Fund Inc (NYSE:MMU) Institutional Investor Sentiment Analysis
Greylin Inv Mangement accumulated 4,701 shares. 80,766 are held by Old Mutual Customised Solutions (Proprietary) Limited. Check Capital Mngmt Ca stated it has 80,497 shares. 2,946 are owned by Oberweis Asset Management Incorporated.

Apple Pay Credit Card With Goldman Sachs In The Works
US Lighting Group , Inc. will be presenting information on its entire portfolio of lighting products, its market and growth plan. Goldman Sachs traded up $1.71, hitting $243.44, on Wednesday, according to Marketbeat.com . (NYSE:GS) on Wednesday, January 31.

AFGHANISTAN: Government building attacked in Jalalabad, 12 dead
Taliban militants and fighters of Islamic State outfit have presence in the province, some 120 km east of Afghan capital of Kabul. The situation was reported to be tense as at the time of writing a gun battle still going on.

Giuliani 'quite certain' Trump didn't know about Cohen deals
After law school, he joined AT&T as an attorney in 1993 and later ascended the ranks of the company's massive lobbying operations. The payments were made to Essential Consultants, a company created by Cohen one month before the 2016 US presidential election.

NASA Announces It is Sending a Helicopter to Mars in 2020
The Mar's helicopter carries twin blades, which whirls about ten times the blades of the aircraft on the Earth's surface. The rocket, which will accomplish the mission, is named as United Launch Alliance's Atlas V rocket.

UFC 224 Post-Fight Press Conference
This main event is a battle for the Women's Bantamweight Championship as Nunes (15-4) defends her title against Pennington (9-5). No fight card is complete nowadays without a wild bantamweight scrap, and this one has it in the form of Brian Kelleher vs.

Trump's Latest Cabinet Tirade Lasted 30 Minutes
Trump's tirade went on so long that many present began fidgeting in their seats and flashing grimaces, White House aides said. Two sources familiar with the blow-up claim Nielsen had written a letter of resignation.

Juvenile in Custody After Shooting at High School in Palmdale
A teen boy is in custody after he reportedly shot one of his fellow students at a Palmdale, California high school. Ricky Munoz, 23, says he dropped his two younger brothers and a friend off at the high school just after 7 a.m.