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Vodafone chief Vittorio Colao to step down

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Vodafone chief Vittorio Colao to step down

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Vodafone has announced that its Chief Executive Vittorio Colao will step down in October.

It follows a 10-year managerial career in which the Italian businessman took the company from a consumer-focused mobile operator into a digital communications powerhouse, offering everything from cable TV to broadband and enterprise services.

Colao will be replaced by Nick Read, who has been finance director since 2014 and long been seen as the likely successor.

Vodafone Chairman Gerard Kleisterlee thanked Colao, describing him as ''a strategic visionary’’.