Vodafone appoints Margherita Della Valle as new chief executive
Vodafone has appointed interim chief executive Margherita Della Valle to the top role permanently, the company announced on Thursday.
Vodafone’s chair, Jean-François van Boxmeer, said Della Valle was selected after a “rigorous internal and external search.”
“Over the last few months as interim group chief executive, the board and I have been impressed with her pace and decisiveness to begin the necessary transformation of Vodafone,” he said.
Della Valle was appointed as interim CEO in December after her predecessor Nick Read was ousted as the company struggled to streamline the business, boost its share price and appease investors.
“To realise our potential Vodafone needs to change. We know we can do better,” she said in a statement.
The news comes days after the company’s largest shareholder — the Abu Dhabi based telecoms company, e& — increased its stake in the company and announced it was in talks over potential shifts in its non-executive board.
The company has been struggling with poor performance in key European markets and a falling share price.
Earlier this year Vodafone announced it had sold off multiple arms of its global operations, including in Egypt and Hungary for £1.5bn, as it looks to simplify its business.
Its shares have fallen almost 30 per cent in the last year.
Della Valle said her priority was to “improve the service for our customers, simplify our business and grow.”
“Margherita has the full support of myself and the Board for her plans for Vodafone to provide better customer experience, become a simpler business and accelerate growth,” added van Boxmeer.