New shake-up at the top of Vodafone Spain. Federico Colom, star signing as ‘head’ of Strategy of the company who landed a few months ago after having been appointed by Orange as responsible for the merger with Másmóvil, sale immediately for “strictly personal” reasons. Added to this change is the replacement of the considered ‘number 2’, Hisham Hendi, by a former director of the operator who was currently in a teleco in Panama.
The British incorporated Colom in early July. He was going to be in charge, among other areas, of the wholesale market, agreements with third parties and corporate communication. It was the first appointment of the new CEO in Spain, Mario Vaz, since he took office. However, a little less than a month after his arrival, the executive has decided to leave immediately. “Vodafone understands and respects the reasons for his decision and wishes him the best for the future,” the group notes. Those departments that reported directly to him will become directly dependent on the CEO.
The other big change has to do with the most relevant position in operations by size: that of the Consumer Unit. This position has generally been considered ‘number 2’ in the country. Until now it was occupied by Hendi, an executive who came from the Tanzania division. He will leave the position in the coming weeks and will have other responsibilities within the group, although they have not been made public. The appointment of him by the previous CEO was striking, precisely given the lack of experience in the Spanish market.
His replacement will be Ignacio Román, a sector executive who to date had served as commercial vice president of Cable&Wireless Panama (since 2022). He served as vice president for Central and South America of Liberty Latin America and later was CEO of the Colombian Avantel and the Salvadoran Digicel. He landed as marketing director of Vodafone Spain in 2005 and until 2008. He later went on to manage LG’s global account from Vodafone until his appointment as director of the terminal business unit for Vodafone Spain and Vodafone Portugal between 2008 and 20 11, and as director of consumer sales at Vodafone Spain between 2010 and 2014. For the CEO in Spain, this incorporation seeks to “accelerate the implementation of growth plans.”
Along with these movements, a few days ago the definitive departure of Antonio Coimbra from Vodafone Spain was also announced. He will cease to be president of the operator as of October 1. Mario Vaz will also assume this position from that date. Coimbra was CEO of the Spanish subsidiary from September 2012 to October 2020.
In full “strategic review”
All these changes occur in the midst of a “strategic review” of the group regarding the Spanish business. Last May, the global CEO, Margherita Della Valle, admitted to analysts that the situation in the Spanish market is “very difficult” and assured that all options are open, without closing the door to a potential exit from the country. Weeks before that announcement, several investment funds had flown over the company showing potential interest in its assets.
The merger operation of Orange and Másmóvil and the result of the analysis in the European Commission – which must be communicated before the end of the year – will mark the future of any transaction related to Vodafone’s Spanish assets. The reason? Whether or not the regulator requires aggressive corrective measures for this ‘joint venture’ could disrupt the valuations of any asset.
