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Dow Jones Newswires: Vodafone CEO Read to step down

Vodafone Group PLC
VOD,
+1.66%

said Monday that Nick Read has agreed to step down as chief executive and that current Chief Financial Officer Margherita Della Valle has been appointed as interim chief executive.

The U.K.-based telecommunications company said Mr. Read will step down on Dec. 31 and that he will be available as an adviser to the board until March 31.

Ms. Della Valle will continue as CFO, it said.

The board has started a process to find a new CEO, it said.

Write to Kyle Morris at kyle.morris@dowjones.com

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