Vodafone’s Vittorio Colao to step down, hands over to protege Nick Read

MOVES- Vodafone CEO Vittorio Colao is stepping down in October and handing the position over to protege Nick Read, Reuters reports. The move is being heralded in a press as a passing of the torch from a CEO who is universally acclaimed as having turned an asset laiden Vodafone ready to implode to a slender heavyweight competitor to the big Euro players and a generator of enormous shareholder wealth. The Financial Times does an excellent job summarizing Colao’s transformational impact and the large shoes left for Read to fill.