Vodafone Group chief executive Arun Sarin is retiring as at the end of July. Sarin is credited with Vodafone’s ambitious expansion into foreign markets over the past five years.
His stewardship also saw Vodafone increase its global subscriber base from 120 million to more than 260 million. Returns to shareholders over the past five years have increased from 1.69p to 7.51p, an increase of over 400 per cent.
Vodafone confirmed Sarin’s departure as it reported revenues of £35.5 billion for the year ended March 31, 2008, representing growth of 14.1 per cent.
Sarin, appointed chief executive in July 2003, will be succeeded by his deputy, Vittorio Colao