Vodafone Group Plc says that Read was chosen as the successor to Colao following an extensive search for a replacement CEO.
Colao's departure comes amidst some of Vodafone's largest M&A activity. "It will be the right time to start with a new dedicated management team".
Vodafone claims 92 per cent of all data sessions are now at least 3Mbps and hopes IoT and zero rating add-ons will offset any decline in traditional revenue caused by the popularity of SIM-Only and Multi-SIM deals.
While the precise timing couldn't have been anticipated, the handover to Read is being seen as natural by analysts and will give investors a familiar face. Before CFO, Mr Read had previous roles heading up the company's emerging markets and United Kingdom divisions.
Mr Read will be replaced by deputy chief financial officer Margherita Della Valle on July 27, which is the date of Vodafone's annual shareholder meeting. "Colao has made a decision to leave before people start saying, 'You've been in the job too long"'.
During the decade under his leadership, Vodafone has been transformed from a consumer-focused 2G/3G mobile operator to one of the world's leading converged communications companies with a diverse portfolio including the largest mobile and fixed next-generation network in Europe, a significant worldwide enterprise division, and global leadership in the "Internet of Things".
He was also instrumental in Vodafone's $130-billion stake sale in Verizon Wireless.
Interestingly Colao's journey as CEO of Vodafone Plc also coincides with the company's India timeline.
Read will be left to convince regulators to approve the deal with Liberty, which is facing stiff opposition from Deutsche Telekom and isn't due to close until mid-2019.
Vodafone's results showed underlying earnings - the company's preferred profit measure - rose 12 per cent on an organic basis to €14.7 billion, ahead of the company's guidance of 10 per cent organic growth.
Colao regime took major decision to merge Vodafone India with Aditya Birla Group firm Idea Cellular for sustenance of the two debt-ridden firm amid intense tariff war in India.
The company added over 1 crore pre-paid customers but lost 5.8 lakh contract or postpaid customers in January-March.
Organic service revenue was up 1.6%, with fourth quarter growth of 1.4%, showing good momentum in data, fixed/convergence and Enterprise.
Although Saturday will not be a washout, there could be several rounds of showers and thunderstorms throughout the day. The storm was also responsible for a house fire in Grand Island when lightning struck a home at 3204 Knights Road.
The 76ers got the Lakers' pick at No. 10. 12 and 13 with the Detroit Pistons' pick (No. 12) falling outside the top four. Whoever the Suns take in next month's draft, he will join a young core group that includes Jackson and Devin Booker .
Earlier this year, Amazon launched free, two-hour delivery on Whole Foods groceries through its Prime Now service in 10 cities. The company said it will also start offering "weekly deep discounts on select best-selling items" for Prime members, too.
Admin controls: WhatsApp has been rumoured to be working on admin controls for improving Groups experience for a long time. The new feature gives the admin , the power to restrict who can change the group's subject, icon, and description.
Three overs later, when Haris Sohail was caught by Ed Joyce at gully off the bowling of Boyd Rankin , the Irish camp was buzzing. Cricket Ireland have said that one or two Test matches a year will probably be the limit that the Ireland side will play.
Both are still undecided on the nomination, in which the votes likely will end up falling mostly along partisan lines. Even if he stands firm, two more Republicans would need to flip for Haspel to hit the rocks, an unlikely prospect.
The men were gorilla trekking at Virunga National Park on the eastern border when their convoy was ambushed by armed militants. It is a Unesco world heritage site and home to critically-endangered mountain gorillas, as well as lions, elephants and hippos.
The victim is now outside the country and is legitimately concerned for his safety when he returns, according to the police. But things escalated quickly - police say Ades started texting the man constantly. sending more than 65,000 text messages .
Juventus are optimistic of keeping hold of coach Massimiliano Allegri as rumours he will replace Arsene Wenger at Arsenal cool. That left many pundits - including Allegri - naming Maurizio Sarri's Napoli as favourite for the title.
While it is usually Sonam who sets tongues wagging with her unusual fashion choices, this time it was her husband. Her groom, businessman Anand Ahuja was wearing Raghavendra Rathore's beige colored bandhgala on the wedding.
Tech and health care lead U.S. stocks lower
MSCI's gauge of stocks across the globe shed 0.86 per cent amid weak economic data from Germany and China. The Russell 2000 index of smaller-company stocks gave up 6.45 points, or 0.4 percent, to 1,600.34.
Researchers lab-test molecule that may combat common cold virus
But researchers at Imperial College London have developed a molecule known as IMP-1088 which could work around these restrictions. By contrast, the new molecule successfully blocked the several strains it was trialed against without damaging the human cells.
Ford could resume F-150 production next week
Ford has sold 287,000 F Series trucks in the United States in the first four months of this year, up 4% compared to a year ago. The production downtime is tipped to affect Q2 profits at Ford, but the company hasn't changed its outlook for the year.
Cannes 2018: Sonam Kapoor dazzles in an ivory lehenga
Just a couple of days after getting married to longtime boyfriend Anand Ahuja, Sonam has returned to her work commitments. From the past eight years, Sonam has been attending the festival and ruling the hearts of people with her avatars.