Vodafone CEO Nick Reed to step down on December 31, after 4 years.
As a result of the company's poor performance and the board's dissatisfaction with the ongoing revenue decline.
40 lakh users cancel their service subscriptions, VI saw a drop in the number of users.
Due to a sharp drop in income and stock prices, Nick Reed left his position.
According to the organization's official announcement, Reed will leave his position as CEO at the end of December 2022.
Up to March 31, 2023, he will act as the board's formal adviser.
Nick Reed has worked for the business for more than 20 years, the past four of which he has spent in the role of CEO.
"It has been a privilege to spend over 20 years of my career at Vodafone and I am proud of what we have delivered for customers and society across Europe and Africa".
He further added "I agreed with the Board that now is the right moment to hand over to a new leader who can build on Vodafone's strengths and capture the significant opportunities ahead,"