Vodafone CEO Steps Down

May 27, 2008 12:29 p.m. EST

London, UK (AHN) - Vodafone CEO Arun Sarin will step down from leadership of the cell phone carrier in July, to be replaced by European operations chief Vittorio Calao.

Sarin, a 53-year-old Indian native, has held the CEO post since 2003. After entering India and Eastern Europe markets, Sarin told analysts Tuesday Vodafone may make acquisitions in Asia and Africa.

Colao, became deputy CEO in October 2006.

Vodafone announced a net profit of $13.2 billion for the year up to March 31.