Vodafone deputy Chief Executive Vittorio Colao will take over as the new chief executive of the telecom giant, replacing India born Arun Sarin. A release by Vodafone Group Plc today said that Sarin will retire as the chief executive of the company on July, 29.
"It has been a privilege to lead Vodafone for the last five years and to have been involved in the company for such a long time. I feel that I have accomplished what I set out to achieve, particularly in developing and implementing a new strategy.
I am very proud of what Vodafone and its 71,000 people have achieved and the good momentum we have in the marketplace. I know that the business is in capable hands with Vittorio Colao. Having worked with him for many years I know that he has the experience and vision to take Vodafone on to future success," Sarin said.
Commenting on the development, Vodafone Group Plc Chairman Sir John Bond said: "Arun has done a tremendous job as chief executive. He has led the company with distinction and navigated Vodafone through a period of rapid change.
He has developed a new strategy for the business and significantly expanded our footprint in emerging markets. The acquisition in India was very well timed and executed. The Board has a great deal to thank him for and I would like personally to thank him for all he has done for the business and wish him and his family all the best for the future. In Vittorio Colao we have a fine successor and I am looking forward to working with him in his new role,".