Liberty Global’s Andrea Salvato may be new Vodafone Chief

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Vodafone's sale of its Spanish business will fail to help reverse its fortunes, analysts say, as the company's share price fails to budge.
Vodafone's sale of its Spanish business will fail to help reverse its fortunes, analysts say, as the company's share price fails to budge.

Andrea Salvato is a contender for the top job at Vodafone according to latest reports from London’s telecom sources.

Nick Read, Vodafone’s current CEO will step down at the end of the year after a financially turbulent quarter for the telecommunication giant. Beginning of December, the company had seen a 44 per cent decline in shares. CFO Margherita Della is set to take charge as the interm CEO while Vodafone’s board appoints Read’s successor.

Andrea Salvato, currently the Chief Development Officer at Liberty Global has recently been speculated as a replacement for Nick Read. Other potential candidates include ex-EE boss Olaf Swantee and Stephen Carter, CEO exhibitions organiser Informa.

Salvato’s claim to fame is getting a number of big figure deals across the finishing line at Liberty Global, whereas Swantee boasts of stellar sector experience having been CEO at Britian’s EE and Switzerland’s Sunrise. Carter was Ofcom’s founding CEO and brings industry experience with his stints at Virgin Media and Alcatel.

Commenting on the Vodafone board’s process to find a new CEO, Nick Read stated “Now is the right moment to hand over to a new leader who can build on Vodafone’s strengths and capture the significant opportunities ahead.”