Vodafone Appoints Shameel Aziz Joosub Spain CEO to Turn Around Ailing Unit - Bloomberg

Vodafone Appoints Shameel Aziz Joosub Spain CEO to Turn Around Ailing Unit - Bloomberg: "Vodafone Group Plc replaced the chief executive officer of its Spanish unit as the world’s largest mobile-phone company tries to turn around the business in one of its worst-performing European markets.

Shameel Aziz Joosub, an executive director of Vodafone’s Vodacom unit in South Africa, was named CEO after Francisco Roman was appointed executive chairman, Simon Gordon, a company spokesman, said today via phone. The new CEO will report to Roman, he said.

First-half service revenue at the Spanish unit, excluding currency swings and acquisitions, fell 7.1 percent while declining 1.3 percent in Europe as a whole, Vodafone said in November. European service revenue accounted for about two- thirds of total sales last year.

Faced with unemployment at almost 20 percent in Spain and the deepest government budget cuts in three decades, Vodafone’s local unit has struggled to attract customers to higher-priced smartphones. Spain, reeling from the collapse of a debt-fueled housing boom, has the highest unemployment rate in the euro region and the third-largest budget deficit."

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