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Evening Standard
Evening Standard
Business
Simon English

Voda ousts CEO Nick Read in drive for ‘shareholder value’

Nick Read Vodafone

Mobile phone giant Vodafone has revealed its boss Nick Read will step down at the end of the year just weeks after unveiling an £880 million plan to slash costs and warning over job cuts and price hikes (PA)

(Picture: PA Archive)

VODAFONE today dramatically ousted long-serving company man Nick Read as CEO after becoming frustrated at the pace of change and lacklustre share price under his leadership.

While the statement said Read, 58, “has agreed with the board” to step down, the immediate appointment of CFO Margherita Della Valle as interim CEO hints at the discontent.

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