Vodafone Business CEO steps down as mobile giant battles European sales slowdown

The chief executive of Vodafone Business will leave the mobile giant at end of this year, it has been announced. 

Vinod Kumar will continue to run the business until 31 December before pursuing a portfolio career.

This comes after the dramatic stepping-down of Vodafone Group’s former CEO Nick Read in December 2022, with taking over as interim, a role she has now assumed full-time. 

Following the announcement, Vodafone Business’s share price was down more than 1.5 per cent this morning.

He joined the company as chief executive in 2019, and was responsible for Vodafone’s enterprise business globally.

Earlier this year Vodafone Business announced it had sold off multiple arms of its global operations, including in Egypt and Hungary for £1.5bn, as it looks to recoup pandemic and inflation-linked losses.  The sell off came as the company looked to simplify its business.

In its February annual report, Vodafone reported that its European business had majorly slowed with “declines in Germany, Italy and Spain”, but the UK arm had continued to recover strongly post-Covid.

Margherita Della Valle, Vodafone Group chief executive said: “We will miss Vinod when he leaves at the end of the year to pursue a portfolio career.

“I want to thank him for his leadership of Vodafone Business and his continued commitment over the coming months to serve our customers, deliver growth and keep Vodafone Business a strong competitor.”