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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Vodafone Group Plc | LSE:VOD | London | Ordinary Share | GB00BH4HKS39 | ORD USD0.20 20/21 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.28 | -3.26% | 67.72 | 67.70 | 67.72 | 69.84 | 67.60 | 69.84 | 26,236,390 | 13:38:49 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Radiotelephone Communication | 45.71B | 11.84B | 0.4372 | 1.56 | 18.43B |
By Simon Zekaria
LONDON-- Vodafone Group PLC's long-standing Chief Technology Officer Steve Pusey plans to retire in the summer, heralding the departure of one of the architects of the British telecom operator's multibillion-dollar plan to expand its global network.
Mr. Pusey will leave the world's second-biggest wireless operator after China Mobile Ltd. on July 31 after eight years at the group, the company said on Thursday.
Vodafone has poached Johan Wibergh, executive vice president in charge of networks at Swedish telecom-equipment maker Ericsson, to replace him. Mr. Wibergh, who joined Ericsson in 1996, is scheduled to join Vodafone in May to enable a period of transition, Vodafone said.
"I will leave the Vodafone technology community in excellent hands," said Mr. Pusey said in a statement. Mr. Pusey wasn't immediately available for further comment.
Mr. Pusey joined Vodafone as CTO from Canadian telecommunications company Nortel in 2006 and was appointed to the board in June 2009. He spearheaded the international expansion of Vodafone's third-generation wireless services, the launch of faster fourth-generation networks in 15 countries and the development of Vodafone's cybersecurity operations.
He also led the group's global network spending plan, which has earmarked $11 billion to upgrade its network across the world by March 2016. The investment is focused on third-generation and fourth-generation network capacity as well as fiber-optic-cable rollout and store upgrades. Total outlay on networks and services will be more than $29 billion.
Vodafone is spending billions of dollars gathered from the landmark $130 billion sale of its 45% stake in Verizon Wireless, a U.S. mobile joint venture, to improve the network's quality and speed. In Europe, it sees the upgrade central to a turnaround of its business in the region.
Thursday, Vodafone Chief Executive Vittorio Colao said the plan is "well on track and already delivering significant benefits" to customers.
The operator has also focused on deal-making across Europe's scattered telecom and media sectors as operators pursue fixed-line assets and exclusive content to shore up stagnating wireless businesses. It has spent $20 billion on cable operators in Germany and Spain in recent times to bolster its position.
To further enhance its fixed networks, Vodafone has been rolling out fiber-optic in Ireland, Italy, Portugal and Spain.
Write to Simon Zekaria at simon.zekaria@wsj.com
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