Vodafone Share News (VOD)

Vodafone's Chief Financial Officer is set to depart the FTSE 100 telecoms company once the sale of Verizon Wireless has completed. Andy Halford, who has commanded the company's finances for almost nine years, will exit in March, when Verizon Communication will take full ownership of the business. Vodafone said it would replace the director with Nick Read, who currently heads up the company's Africa, Middle East and the Asia Pacific region operations. Group Chairman Gerard Kleisterlee said: "Andy has made an enormous contribution to Vodafone during his fifteen years with the group and his tenure as Group Chief Financial Officer and member of the board. "His prudent financial stewardship has contributed greatly to substantial value creation for Vodafone and its shareholders, and he will leave Vodafone with our gratitude and best wishes for the future." He added: "Nick combines extensive operational leadership across some of Vodafone's most important and complex markets with a detailed understanding of the industry challenges and opportunities of greatest interest to investors. I am delighted to welcome him to the board."Halford, who has overseen more than £130bn of mergers and acquisitions since the start of his tenure, had reportedly played a major role in the Verizon sale. He said of his departure: "It has been a privilege to work for one of the greatest businesses of our era for almost half of its life and to have been involved with Verizon Wireless from the earliest days. "Next year will be the right time for me to move on and seek the next challenge in my career, and I thank the board, Vittorio and the team for their support over the years."Vodafone shares were up 1.44% at 222.10p by 13:45. NR