Italian executive Vittorio Colao is
stepping down as CEO of Vodafone after 10 years at the helm, the
telecommunications giant announced in a statement on Tuesday.
He will be replaced by CFO Nick Read.
"It was my decision," Colao told analysts.
"We are writing a new chapter in our story and it's a very
healthy to have a team dedicated to this.
"I am very happy that the board has chosen Nick (Read as my
successor). He's an exceptional person".
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