On the day Vodafone announced its 2017 numbers, group CEO Vittorio Colao revealed his last day in the office will be 1 October 2018.
There doesn’t seem to be any juicy gossip behind the move, he has presumably just decided to spend more time with his cash, having spent a decade in charge.
Vodafone also announced a succession plan that will see CFO Nick Read take the reins and Deputy CFO Margherita Della Valle filling his shoes.
“On behalf of the Board, I would like to express our gratitude to Vittorio for an outstanding tenure,” said Vodafone Group Chairman Gerard Kleisterlee.
Vittorio will leave as his legacy a company of great integrity with strong inclusive values that is exceptionally well-positioned for the decade ahead.
I am confident Vodafone will benefit greatly from his experience, insight and wisdom in his new role as Group Chief Executive.