Vodafone’s old marketing slogan “The future is exciting, ready?” could well apply to how it spun Margherita Della Valle’s first set of financial results in her role as chief executive, proper. She said change is in the air; shareholders are less convinced.
The company’s longstanding former finance director had been left hanging in the waiting room as “interim” leader for months while Vodafone mulled over who should be given this difficult job on a permanent basis.
Difficult is an understatement, which she acknowledged out of the traps. The company has been struggling for growth for years, with large debts, operating in a competitive market. The share price dropped a whopping 40 per cent under the tenure of Nick Read.
Many in the industry expressed surprise
