The Vodafone chief executive, Nick Read, is to step down after failing to reverse a sharp fall in the company’s share price, as the telecoms company braces for steep cost cuts and potential job losses.
Read, a two-decade Vodafone veteran who has run the company since 2018, has been ousted after failing to get to grips with a more than 40% fall in the company’s share price during his four-year tenure.
