Home / Markets / Industries / Telecom
Tuesday, May 27, 2008
Vodaphone Posts Record Profit; CEO to Resign
FOXBusiness
The world’s largest cell phone company Vodaphone (VOD) said its chief executive Arun Sarin will resign.
Sarin’s resignation comes after Vodaphone posted a better-than-expected profit for the year. He said he "felt the timing was right to hand over as the company is in a good position strategically."
Vodafone said it earned a full-year profit of $13.25 billion, compared with a net loss of 5.29 billion pounds a year earlier. Revenues increased 14% to $70.2 billion from the year before.
While the timing of the Sarin announcement was a surprise, the nomination of Italian-born Vittorio Colao as his successor was largely expected.
Shares in the company rose 1% to $3.25 in late trading in London.
Fox Business Video
-
-
The Business of Sports
-
Nov 7, 2009
FOXBusiness.com LIVE
-
-
-
Jim Caviezel: Hollywood and th...
-
Nov 7, 2009
Actor in life in film
-
-
-
Ticker Tape Parade Invades Downtown
-
Nov 7, 2009
Yankees celebrate 27th World Series win
-
-
-
Cavuto Business Report 11-06-09
-
Nov 7, 2009
Business Report: Cavuto
-
-
-
Pro Poker Player: $2M in 2 Months
-
Nov 7, 2009
Pro Poker player on growing success of sport
-
