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Vodafone CEO gets out while the going's good
"Quit while you're ahead" is one nugget of conventional wisdom that few CEOs appear to heed, at least judging by the number of executives who have left companies at the behest of shareholders - or, worse, regulators.
Vodafone CEO Arun Sarin, however, appears to be an exception. Sarin, who has been at the helm of the British telecom for five years now, has guided the company to relatively safe ground after several years of rocky performance and some iffy acquisition gambits.
Now, with the company registering respectable profits, he has surprised many in the industry by announcing he will leave the company. Deputy Chief Executive Vittorio Colao will take Sarin's place and continue developing the strategies he set in motion over the last few years.
Sarin is stepping down on 29 July. He has given little explanation for the move other than the timing is right. "We are well positioned strategically," he said.
