Vodafone 'will speed up'
NEW Vodafone chief executive Vittorio Colao took charge after yesterday’s annual meeting and promised speed would be his hallmark.
When asked how he would differ from predecessor Arun Sarin, he said: “We’ve got different styles. I like speed.
I know nothing excites our staff more than seeing things happen quickly.”
He said the company would be resilient in the face of the global economic downturn but would have to offer different products to help it weather the storm.
A slowdown in Spanish operations sparked a 14 per cent slump in the company’s share price on fears it was more vulnerable than expected to a downturn.
Vodafone responded by announcing plans for a £1billion share buyback, overwhelmingly voted through by investors at the meeting in London.
Colao said Vodafone would pursue its expansion into emerging markets, including Africa. Shares rose 4p to 134p.