Vodafone Group PLC Thursday announced a new, simplified organizational structure based around two operating regions, to help drive its strategic objectives, according to a Dow Jones Newswire article.
The world's largest mobile operator said that, from Oct. 1, accountability for the group's operating companies will be brought into a Europe region, comprising all of its existing controlled businesses in the region plus the Czech Republic, Hungary, Romania and Turkey, of which Michel Combes will continue to be the regional chief executive; and an Africa, Middle East and Asia Pacific region, comprising all emerging economies in the the area plus Australia, New Zealand and Fiji, to be headed by Nick Read.
Vodafone said the group chief executive, Vittorio Colao, chief financial officer Andy Halford and its strategy and business development director will be responsible for maximizing shareholder value from Vodafone's investments in Verizon Wireless, its joint venture with Verizon Communications, French mobile operator SFR, majority owned by Vivendi SA, Poland's Polkomtel and Bharti Holding in India, all of which will be removed from within the regional divisions.
In addition, it said Group Marketing, Vodafone Business Services, Vodafone Global Enterprise, Partner Markets, will be combined into a new organization, Group Commercial, headed by Morten Lundal. Technology functions will report into Group Technology and group chief technical officer Steve Pusey will report to Colao. The company will report on the basis of the new organization structure for the second half of this financial year, it said. By 1127 GMT, shortly after the announcement, Vodafone's shares were flat at 159p in a slightly higher London market.
