Vodafone boss Nick Read to step down at end of year

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Read will leave on December 31 after four years as group chief executive, but will remain an adviser to Vodafone’s board until March 31. Vodafone chairman Jean-Francois van Boxmeer said: “I would like to thank Nick for his commitment and significant contribution to Vodafone as group chief executive and throughout his career spanning more than two decades with the company. Investors will be hoping that a change at the top at Vodafone might inject a new longer-term lease of life in the company’s share price Susannah Streeter, Hargreaves Lansdown “During his four years as CEO, he led Vodafone through the pandemic, ensuring that our customers remained connected with their families and businesses.” “He has focused Vodafone in Europe and Africa as a converged connectivity provider and led the industry in Europe in unlocking value from tower infrastructure.” He added: “Margherita has recently been taking a broader operational role within the company and the board fully supports her as interim group chief executive.” Vodafone said Mr Read will receive salary and benefits until March 31, after which he will receive an amount in lieu of his pay for the remainder of his 12-month notice period. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: “Investors will be hoping that a change at the top at Vodafone might inject a new longer-term lease of life in the company’s share price.