Vodafone CEO Nick Read will step down at the end of this month after four years in the top job.
Read will leave on December 31 but will remain an advisor to the board until the end of March, the group said in a statement on Monday.
Margherita Della Valle will take over as interim chief executive as the UK-based telecom group is looking for a permanent replacement. She will remain chief financial officer in the meantime.
“She will accelerate the execution of the Company’s strategy to improve operational performance and deliver shareholder value,” Vodafone said in its statement.
Jean-François van Boxmeer, president of Vodafone, said Read has led Vodafone through the pandemic, “ensuring that our customers remain connected to their families and businesses”.
