Vodafone reveals strong results, appoints new CFO ahead of Three merger

Date:
Mon, 24 Jul 2023 10:38:53 +0000

Description:
New Vodafone CFO Luka Mucic is taking the rains on September 1.

FULL STORY ======================================================================

As Vodafone prepares for its big merger with Three, it has revealed strong financial results and announced a brand new Chief Executive Officer (CEO).

Reporting on its finances, Vodafone says it experienced revenue growth of
3.7% for the year, or 1.8% if Turkey is excluded. For the fourth quarter of the year, the growth was 1.9% or 0.5%, respectively.

When it comes to foreign markets, Vodafone reported broad-based service revenue improvement across almost all European markets, with service revenue significantly improving in Germany (-1.3% for the year, or -2.8% for the quarter), mostly supported by broadband price increases. New CFO

For Vodafone Business, service revenue growth accelerated to 4.5% for the year, driven by a strong performance in digital services (Q4: 2.9%).

At the same time, the company announced that its search for a new CFO is finally over and that Luka Mucic will take the helm starting September 1, 2023.

Margherita Della Valle, soon-to-be ex-CEO, said she was thrilled about the news: He has a strong track record of international leadership, corporate repositioning and value-creation. Luka is joining us at a critical time as we undertake the transformation of Vodafone, she said. Read more

Vodafone to slash 11,000 jobs as CEO says company simply didn't do well

enough

Vodafone and Three merger talks to accelerate this month

These are the best 5G phones

Mucic was the CEO of SAP SE between 2014 and 2017, and the companys CFO from 2014 until March 31, 2023. He is also a member of the Supervisory Board of Heidelberg Materials AG. He was previously a non-executive director of the Board of Qualtrics International.

One of Mucics biggest tasks in the near future will be the transformation of Vodafone. Recently, the company announced plans to cut 11,000 jobs and restructure into a leaner, more agile business. Check out the best cheap cell phone plans



======================================================================
Link to news story: https://www.techradar.com/pro/vodafone-reveals-strong-results-appoints-new-cfo -ahead-of-three-merger


--- Mystic BBS v1.12 A47 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)