Vodafone Names Jeffery as Head of New Enterprise Unit
Stock Chart for Vodafone Group PLC (VOD)
Vodafone Group Plc (VOD), the second- largest mobile-phone company, will reorganize the enterprise businesses into one group and named Nick Jeffery as head.
The new unit, starting Jan. 1, will include Vodafone’s global enterprise and carrier services business, as well as machine-to-machine and hosting and cloud services, the Newbury, England-based company said in a statement today.
Vodafone is reconfiguring its enterprise business as part of a faster integration of Cable & Wireless Worldwide which it bought for 1.04 billion pounds ($1.7 billion) this year. Jeffery was named head of Cable & Wireless in July and had formerly run the company’s global enterprise unit. New global enterprise chief Jan Geldmacher will retain his position and report to Jeffery, the company said.
“It has become clear that there is strong customer demand for combined products and services,” Vodafone said in the statement. “To realize this growth opportunity, we have decided to accelerate the CWW integration process ahead of our original schedule.”
Also starting Jan. 1, the two companies will combine their U.K.-based enterprise businesses, customer service, human resources, finance and other departments.
Vodafone kept its forecast for about 500 million pounds of integration costs and cash flow synergies of as much as 200 million pounds a year by 2016.
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