Vodafone falls behind in Germany

Hamburg It was early February when Nick Read again had to announce bad news from Germany. The Vodafone boss tried to portray his subsidiary’s meager growth as “consistent performance”. In reality, however, Vodafone is falling further and further behind in its most important market.

Frustration is apparently growing among German executives, group insiders report to the Handelsblatt. They felt patronized by their British mother and robbed of their power. Some, like Gerhard Mack, chief technology officer who is valued in the industry, have already left.

One reason: CEO Read wants to make his group, which consists of several national companies, more uniform and therefore more efficient. Core areas such as technology are increasingly controlled directly from the London headquarters. According to Read, this should primarily reduce costs.