Last month, Vodafone appointed Margherita Della Valle as CEO in hopes of revitalizing the struggling company. However, investors remained cautious, waiting to see if the company veteran was capable of turning things around. Shortly after her appointment, Della Valle presented a blunt assessment of the challenges Vodafone is currently facing. This assessment has had a severe impact on the company, causing its shares to plummet to their lowest point in 20 years.
Della Valle, who hails from Italy and has been with Vodafone since 1994, previously serving as its chief financial officer since 2018, announced her plans to cut 11,000 jobs out of a total workforce of 90,000. She also pledged to accelerate the introduction of new services by granting greater autonomy to country managers.
Her candid evaluation of Vodafone’s predicament has intensified calls for strategic deals to overhaul key markets and for improvements in the company’s operations. However, the situation is further complicated by conflicting demands from the investor base, concerns regarding Vodafone’s dividend prospects and the significant impact of the job cuts on the workforce