At the company's annual general meeting in July, deputy chief financial officer Marghertia Della Valle will take over as chief financial officer, with Read becoming group chief executive-designate.
Vodafone said the appointments followed an internal and external search for candidates. The telco credits Colao with transforming Vodafone "from a consumer-focused 2G/3G mobile operator to one of the world's leading converged communications companies". The mobile customer base doubled from 269 million to 536 million during his tenure, and the company added almost 20 million broadband customers.
Read attained his present post in 2014 following a successful spell at the group's emerging markets division spanning Africa, the Middle East and Asia Pacific.
Vodafone delivered an attributable profit of €2.5bn, compared to a loss of €6.3bn in 2017 when the company incurred a one-off €4.5bn charge in relation to merging its India business with the country's mobile phone provider Idea Cellular Limited.
He will be replaced by current finance director Nick Read. Prior to joining Vodafone, Read held senior finance positions with United Business Media and Federal Express Worldwide.
Vodafone revenue fell 2.2 percent to €46.6 billion, primarily due to the deconsolidation of Vodafone Netherlands following the creation of joint venture VodafoneZiggo, and foreign exchange movements. "Nick has been the core architect of Vodafone strategy for much of my tenure".
The turnaround pointed to a "year of significant operational and strategic achievement and strong financial performance", Colao said.
"Our sustained investment in network quality supported robust commercial momentum: we added a record number of fixed [Next Generation Networks] and converged customers in Q4, mobile data usage continues to grow strongly and we grew both revenues and margins in Enterprise, despite roaming headwinds, and continued to reduce operating costs".
Earlier this month, Vodafone agreed to buy Liberty Global's cable operations in Germany and Central Europe in a deal valued at €18.4bn.
I reiterate that Chelsea's team is good on paper, but they will need to innovate for next season in order to remain competitive. Antonio Conte is nearly out the door after a wildly inconsistent season following his maiden-term Premier League title win.
After sanctions were eased as part of the nuclear agreement, Iran ramped up production to about 3.8 million barrels a day. Investors are anxious that renewed sanctions on Iran, a major oil producer, could lead to supply disruptions.
Sidhu, who joined the Indian National Congress in 2017, was convicted under Section 323 (causing hurt) of the India Penal Code. Reversing the High Court ruling, the apex court acquitted him of the serious charge of culpable homicide in the 1988 case.
Another round of showers and storms will sweep through overnight with the risk for heavy rain and gusty wind once again . Deep moisture remains, and we will have occasional showers and possibly a thunderstorm or two Saturday and Sunday .
It will carry solar cells to charge up in the light of the sun and a heating mechanism to endure cold nights on the Red Planet . The rover then will be driven away from the helicopter to a safe distance from which it will relay commands.
The organisation will administer the vaccination to healthcare workers and anyone else who has been potentially exposed to Ebola. He said World Health Organization has an agreement with DRC including all the necessary registration and import permits.
ICRA's principal economist Aditi Nayar said WPI inflation is expected to continue to rise over the remainder of this quarter. Petrol prices increased by 9.45% over April previous year , while liquefied petroleum gas became cheaper by 11.73%.
Powell's POV: I guess this also means that Rousey and Jax won't be appearing in person at today's Raw television taping in London. She's one of a kind, so there definitely has to be an alternation to my regimen and I'm looking forward to it.
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Narrowing in a bit closer, the 5 month price index is 0.99527, the 3 month is 1.09221, and the 1 month is now 1.07407. RDI is a FTSE 250 UK Real Estate Investment Trust committed to becoming the UK's leading income focused REIT.
Scott Arfield's Burnley exit confirmed
Arfield's excitement intensified when he discovered Steven Gerrard was going to be his new manager. Rangers are expected to add several new players this summer, with Arfield the first of many.
HSBC claims first trade transaction with blockchain
Thailand's Central bank also announced a similar blockchain-based consortium involving some of the top banks in the country. It included a shipment of soybeans from Argentina to Malaysia via Cargill's subsidiaries in Geneva and Singapore.
Will Trump turn out to be right about Iran?
Trump, who said he will restore US sanctions on Iran , has now fulfilled another of his election promises on foreign relations. Russian Foreign Minister Sergei Lavrov (left) and his Iranian counterpart Mohammad Javad Zarif met last month in Moscow .
Gov. Rauner seeks to reinstate death penalty
Death penalty murder suspects would have to be convicted by juries "beyond all doubt" - not just 'beyond a reasonable doubt'. Bruce Rauner proposed Monday, it might not have much of an effect on the strategy of criminal defense attorneys.