6th Feb 2019 15:53
LONDON (Alliance News) - Vodafone Group PLC on Wednesday said that Vodafone Business Chief Executive Brian Humphries will step down in March and will take up a new role outside the company.
Humphries joined telecommunications firm Vodafone in December 2016. Vodafone did not disclose the name of the company he will be joining or what role he will be assuming there.
Vivek Badrinath, CEO of Vodafone's Rest of World unit, will act as interim Vodafone Business CEO "to ensure a smooth transition".
A permanent replacement for Humphries has not been named but Vodafone said it "will be announcing Brian's successor in due course".
In late January, Vodafone announced that its revenue fell 6.8% to EUR11.00 billion from EUR11.78 billion a year prior in its third quarter, which ended in December. This was after both its European and Rest of World segments saw revenue declines.
"We enjoyed good growth across our emerging markets with the exception of South Africa, which was impacted by our pricing transformation initiatives and a challenging macroeconomic environment," said Vodafone Group CEO Nick Read.
The company nonetheless remained confident of achieving its annual guidance.
Shares in Vodafone were up 1.5% at 143.12 pence on Wednesday afternoon.
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