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.
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.
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
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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.
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.
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.
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 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.
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.
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.
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-".
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 .
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Taliban attacks Farah city in west Afghanistan, kills dozens
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Apple Pay Credit Card With Goldman Sachs In The Works
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Giuliani 'quite certain' Trump didn't know about Cohen deals
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UFC 224 Post-Fight Press Conference
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Trump's Latest Cabinet Tirade Lasted 30 Minutes
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