The board of directors at Vodafone is dissatisfied with the company’s continual decline in revenue and market share, hence CEO Nick Reed will leave his position. Additionally, Vodafone Idea saw a decline in its subscriber base as about 40 lakh people stopped using its telecom services.
According to the reports from Vodafone, Reed will withdraw from his positions as a ‘Director’ as well as ‘Group Chief Executive’ of Vodafone on 31st December 2022. He will, however, continue to advise the Board until 31st March 2023.
Towards the end of this year December, Vodafone CEO Nick Reed will resign from his position. Margherita Della Valle, Vodafone Group’s Chief Financial Officer will take over for him in the interim.