Vodafone Business CEO steps down as mobile giant battles European sales slowdown
The chief executive of Vodafone Business will leave the mobile giant at end of this year, it has been announced.
Vinod Kumar will continue to run the business until 31 December before pursuing a portfolio career.
This comes after the dramatic stepping-down of Vodafone Group’s former CEO Nick Read in December 2022, with Margherita Della Valle taking over as interim, a role she has now assumed full-time.
Following the announcement, Vodafone Business’s share price was marginally down.
He joined the company as chief executive in 2019, and was responsible for Vodafone’s enterprise business globally.
Earlier this year Vodafone announced it had sold off multiple arms of its global operations, including in Egypt and Hungary for £1.5bn, as it looks to simplify its business. Egypt’s arm being taken on by Vodafone’s African business.
In its February Q3 report, Vodafone reported that its European business had majorly slowed with “declines in Germany, Italy and Spain”, but the UK arm had continued to recover strongly post-Covid.
Margherita Della Valle, Vodafone Group chief executive said: “We will miss Vinod when he leaves at the end of the year to pursue a portfolio career.
“I want to thank him for his leadership of Vodafone Business and his continued commitment over the coming months to serve our customers, deliver growth and keep Vodafone Business a strong competitor.”