Vodafone Group has announced that CFO Andy Halford will be leaving his role in March 2014.
The Group’s chief executive of the Africa, Middle East and Asia-Pacific region, Nick Read, will replace Halford next April. Read’s current position will be occupied Serpil Timuray. The move ends a 14 association between Halford and the operator and spent time with Verizon Wireless as CFO in 2002. Read has been with Vodafone since 2001 and spent time as its UK chief executive in 2006.
Vodafone Group chief executive Vittorio Colao said: ‘Andy and I have worked together for many years: he has played an integral role in creating immense value for our shareholders and shaping the future direction of the Group. Andy has been a fantastic colleague, and the team and I are grateful for everything he has achieved in his time with Vodafone. Over the last five years, Nick has led the AMAP region through a period of rapid growth, increasing revenues and profits in our major emerging markets businesses. He is a highly experienced contributor to the Group's long-term strategy, and I look forward to working with him in his new role. Nick will be ably succeeded by Serpil, one of Vodafone's most accomplished senior leaders with a strong commercial and operational track record in a key growth market.’
Vodafone Group chief financial officer Andy Halford added: ‘It has been a privilege to work for one of the greatest businesses of our era for almost half of its life and to have been involved with Verizon Wireless from the earliest days. Next year will be the right time for me to move on and seek the next challenge in my career, and I thank the Board, Vittorio and the team for their support over the years.
Vodafone Group chairman Gerard Kleisterlee said: ‘Andy has made an enormous contribution to Vodafone during his fifteen years with the Group and his tenure as Group Chief Financial Officer and member of the Board. His prudent financial stewardship has contributed greatly to substantial value creation for Vodafone and its shareholders, and he will leave Vodafone with our gratitude and best wishes for the future. Nick combines extensive operational leadership across some of Vodafone's most important and complex markets with a detailed understanding of the industry challenges and opportunities of greatest interest to investors. I am delighted to welcome him to the Board.’
Author: Matthew Campelli