Vodafone CFO Andy Halford To Step Down In March 2014; To Appoint Nick Read CFO

(RTTNews) - British telecom giant Vodafone Group Plc (VOD, VOD.L) announced Thursday that its Group Chief Financial Officer, Andy Halford, has informed the Board that after almost nine years in role, he plans to leave the company at the end of March 2014 after the conclusion of Vodafone's transaction with Verizon Communications Inc. (VZ).

The company said its board has decided to appoint Nick Read as Group Chief Financial Officer-designate, effective 1 January 2014. He will be appointed to the Vodafone Group Board on 1 April 2014. Nick Read will be succeeded as Chief Executive of the Africa, Middle East and Asia-Pacific or AMAP region by Serpil Timuray on 1 January 2014.

Nick Read joined Vodafone in 2001. He was the Chief Financial Officer at Vodafone's UK operating company before being appointed UK Chief Executive in 2006. He was appointed to the role of Chief Executive for the AMAP region in 2008. Before joining to Vodafone, Nick Read spent 10 years at Federal Express Worldwide where he was Vice President and Chief Financial Officer for Europe. He was also the former Chief Financial Officer of Miller Freeman Worldwide plc, the largest division of United News and Media Plc.

Serpil Timuray was appointed Chief Executive of Vodafone Turkey in 2009. She was appointed as a Director on the Board of Vodacom Group in South Africa in September 2012. Previously General Manager with Danone Turkey, Serpil Timuray began her career with Procter and Gamble. She will be succeeded as Vodafone Turkey Chief Executive by Gokhan Ogut who is currently Vodafone Turkey Chief Commercial and Operations Officer.

In early-September, U.S. telecommunications giant Verizon Communications said that it agreed to buy Vodafone Group Plc.'s 45% stake in their Verizon Wireless joint venture in a $130 billion cash and stock deal that gives it full control of the largest and most profitable U.S. mobile phone carrier.