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September 6, 2008 1:44:15 AM CDT

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New Vodafone CEO Has Tough Calls Ahead

Posted May 28, 08 9:20 AM CDT in Technology,  Business 

(Newser) – A slowing global economy and continued investor unease over Vodafone’s 45% stake in Verizon Wireless will likely provide a turbulent welcome for new CEO Vittorio Colao when he takes the reins of the wireless provider in July, the Wall Street Journal reports. Colao will succeed Arun Sarin, who's set to leave in July—earlier than previously expected.

While some changes are expected, Colao, whom Sarin has groomed for the CEO role, is expected to continue pushing Vodafone’s growth in Africa, Asia, and the Middle East while working to grow add-on products—like data—in Europe’s mature marketplace. What might change is its joint venture with Verizon—the two have discussed a Verizon Wireless buyout for months.

Source Wall Street Journal

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Vodaphone Group on Tuesday said chief executive Arun Sarin would step down at the end of July.   (AP Photo/Virginia Mayo)
Vodafone on Tuesday named Vittorio Colao as its new CEO.   (AP Photo)
Chief Executive of Vodafone, Arun Sarin, is stepping down in July.   (AP Photo/Manu Fernandez)
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