Vodafone is to split into three new business divisions in a restructuring plan aimed at keeping its position as the world's leading mobile telecommunications group.
The new structure will comprise Europe; New Businesses and Innovation; and Central Europe, Middle East, Asia Pacific and Affiliates.
Vodafone said that Bill Morrow, currently president of the business in Japan, will head up its new Europe unit. Paul Donovan, the head of OVS (Other Vodafone Subsidiaries) and a former chief executive of its Irish division, is to become chief executive of Central Europe, Middle East, Asia Pacific and Affiliates.
The other new unit, New Businesses and Innovation, will be run by Thomas Geitner, currently Vodafone's chief technology officer.
'By creating three new business units, and with an increased focus on costs, we are reflecting the different approaches that will be required to continue to succeed, both in terms of our existing operations and in capturing new revenue streams for the future,' said CEO Arun Sarin.
