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Summary:

Arun Sarin, who defined Vodafone (NYSE: VOD) as the big global telecom conglomerate in his five years as CEO, is going to step down in July…

imageArun Sarin, who defined Vodafone (NYSE: VOD) as the big global telecom conglomerate in his five years as CEO, is going to step down in July and will be replaced by Vittorio Colao, who is presently Sarin’s number two and has responsibility for the company’s European operations, reports Telegraph. The exact timing of Sarin’s departure, along with record headline full-year profits of about $25.8 billion (£13 billion) will be announced on Tuesday, the story said.

The timing of his departure comes as a surprise, if only because he was almost ousted two years ago in a board battle, but has since managed to steady the ship, with his focus on building Vodafone’s presence in emerging markets, including India. Sarin (pictured here at Vodafone’s earnings gathering for investors this morning) is expected to move into private equity world.

Times UK: As well as success in emerging markets, Sarin has also seen revenues rise thanks to data. Last year revenues from this area — the downloading of music clips, emailing and so on — surged nearly 50 per cent in the first half to $1.9 billion (£1 billion). Data revenues now account for 7.3 percent of the group’s total Western European revenues.

Update: In Vodafone’s Tuesday-morning earnings meeting, Sarin said: “I’ve done what I came here to do. The time is right and the time is now.” He said he looked forward to seeing the gathered analysts again “in the next couple of years” as his tenure comes to an end, suggesting it may be a slow step-down.

  1. Sarin is part of a $3 Million Extravagant Spending by UC President Yudof for UC Berkeley Chancellor Birgeneau to Hire Consultants – When Work Can Be Done Internally & Impartially
    These days, every dollar counts. Contact Senate (Ms. Romero 916.651.4105) & Assembly (Ms. Brownley 916.319.2044) Chairperson’s Education Committees or your representatives.
    Do the work internally at no additional costs with UCB Academic Senate Leadership (C. Kutz/F. Doyle), the world – class UCB faculty/ staff, & the UCB Chancellor’s bloated staff (G. Breslauer, N. Brostrom, F. Yeary, P. Hoffman, C. Holmes etc) & President Yudof.
    President Yudof’s UCB Chancellor should do the high paid work he is paid for instead of hiring expensive East Coast consults to do the work of his job. ‘World class’ smart executives like Chancellor Birgeneau need to do the hard work analysis, and make the tough-minded difficult, decisions to identify inefficiencies.
    Where do the $3,000,000 consultants get their recommendations?
    From interviewing the UCB senior management that hired them and approves their monthly consultant fees and expense reports. Remember the nationally known auditing firm who said the right things and submitted recommendations that senior management wanted to hear and fooled the public, state, federal agencies?
    $3 million impartial consultants never bite the hands (Birgeneau/Yeary) that feed them!
    Mr. Birgeneau’s accountabilities include “inspiring innovation, leading change.” This involves “defining outcomes, energizing others at all levels and ensuring continuing commitment.” Instead of deploying his leadership and setting a good example by doing the work of his Chancellor’s job, Mr. Birgeneau outsourced his work to the $3,000,000 consultants. Doesn’t he engage UC and UC Berkeley people at all levels to examine inefficiencies and recommend $150 million of trims? Hasn’t he talked to Cornell and the University of North Carolina – which also hired the consultants — about best practices and recommendations that will eliminate inefficiencies?
    No wonder the faculty, staff, students, Senate & Assembly are angry and suspicious.
    In today’s economy three million dollars is a irresponsible price to pay when a knowledgeable ‘world-class’ UCB Chancellor and his bloated staff do not do the work of their jobs.
    Together, we will make a difference.

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