Business - Vodafone appoints emerging mkt bosses from within

LONDON: Vodafone Group announced the appointment of two new bosses to run its emerging markets division on Monday in the latest move by new Chief Executive Vittorio Colao. Vodafone, the world's largest mobile phone group by revenue, announced earlier this month that it would split its emerging markets division into two and appoint two new bosses because the unit was becoming too large. Vodafone appointed Nick Read, currently chief executive of the UK, to run Asia Pacific and the Middle East, and Morten Lundal, currently chief executive of Middle East & Africa within the emerging markets unit, to run Central Europe and Africa. Guy Laurence, currently chief executive of Vodafone Netherlands, will replace Read to become chief executive of Vodafone UK. The original emerging-markets unit covered eastern Europe, the Middle East and Africa, Asia Pacific and Affiliates and was known as EMAPA. Under the new system, Read will be responsible for Australia, China, Egypt, Fiji, India, New Zealand and Qatar. Lundal will cover the Czech Republic, Ghana, Hungary, Kenya, Poland, Romania, Turkey and Vodacom Group in South Africa. Vodafone is currently in negotiations to increase its share in Vodacom to 62.5 percent from 50 percent in what is an important market for the company