Vodafone CEO Arun Sarin stepping down, to be replaced by Vittorio Colao
You know how you quit your job that one time because you just weren't seeing results and the coffee kind of sucked? Well, not this guy. After five years at the helm of the world's largest phone company, Arun Sarin is leaving his CEO spot at Vodafone at the ripe old age of 53. His #2, Vittorio Colao, the current Regional CEO of Southern Europe, Middle East and Africa for Vodafone, will be taking the top spot, with the handover to happen on July 29th. Sarin's rule of Vodafone included a failed bid for AT&T Wireless and considerable expansion into emerging markets like India, Turkey and Romania. It's certainly paid off for the company, with full-year profits of $13.25 billion. According to the man himself, "I've done what I came here to do. The time is right and the time is now." It does appear he'll be sticking around a bit in an advisory role, and rumor has it his next gig will be private equity-related.
