Two stepping down at Vodafone

TWO TOP directors are stepping down at mobile phones group Vodafone. Vittorio Colao, the highly respected head of its southern European region, is leaving to become chief executive of RCS MediaGroup, Italy's largest publisher and owner of national daily Corriere della Sera.

And Darryl Green, chief executive of Vodafone's troubled Japanese businesses, Vodafone Holdings KK and Vodafone KK, had resigned 'to pursue other interests'.

Pietro Guindani, the chief financial officer of Vodafone Italy and the Southern European, Middle East and Africa region, will replace Colao, who has been the chief executive since 2001.

Vodafone said Colao would remain with the company until July to ensure a smooth handover.

Group chief executive Arun Sarin said the 42-year-old Italian had 'contributed enormously to transforming Vodafone into a strong, successful global company'.

'We wish Vittorio every good fortune in the position he has chosen to take up at RCS,' Sarin said.

Green's departure comes after profits at Vodafone's Japanese business fell 19% last year, to £1.045bn from £1.3bn the previous year.

The business faced tough competition and problems in getting new 3G technologies to the market.

Vodafone, which sold the fixed line arm of its Japanese operation last year, is planning a shake-up of the business, including merging the holding company with its sole subsidiary.

The group said the chief executive of its Asia Pacific region, Brian Clark, would become president and chief executive of Vodafone Holdings KK and Vodafone KK.

David Jones, the recently appointed chief operating officer of Vodafone KK, would continue to handle all operational matters.