Vodafone Group PLC
said Monday that Nick Read has agreed to step down as chief executive and that current Chief Financial Officer Margherita Della Valle has been appointed as interim chief executive.
The U.K.-based telecommunications company said Mr. Read will step down on Dec. 31 and that he will be available as an adviser to the board until March 31.
Ms. Della Valle will continue as CFO, it said.
The board has started a process to find a new CEO, it said.
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