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Nick Read
Nick Read
Nick Read
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Nicholas Jonathan Read (born 29 September 1964)[1] is a British businessman who was the CEO of Vodafone Group plc from October 2018 to December 2022. Read currently works as a senior advisor for Global Infrastructure Partners (GIP) and is chairman of EXA Infrastructure. He is also a non-executive director for Booking.com.

Key Information

Education

[edit]

Read attended Manchester Metropolitan University,[2] where he earned a BA (Hons) degree in Accounting and Finance in 1986.[3] He is a Fellow Chartered Management Accountant and a Chartered Global Management Accountant (CGMA).[3]

In 2022, Read was the recipient of an Honorary Doctor of Business Administration degree from Manchester Metropolitan University.[4]

Career

[edit]

Read worked for Federal Express Corporation in the UK, Belgium and the United States. He also worked at United Business Media, performing divisional CFO roles in both companies.[2][5]

While Read was serving as CFO for Vizzavi in 2001, Vodafone bought out its joint venture partner, Vivendi Universal, and subsequently merged Vizzavi's operations with Vodafone.[6] Read became the CFO for Vodafone's UK business in 2002 and then CCO in 2003.[7] On 1 May 2006, he became the CEO of Vodafone UK.[7]

In 2008, Read became the Group's Chief Executive for the Africa, Middle East and Asia region. In this role he became a board member of numerous Vodafone subsidiaries, joint ventures and minority positions. They included China Mobile, Vodacom Group, Safaricom plc, Vodafone Egypt, Vodafone Qatar, Indus Towers, Vodafone India, Vodafone Hutchinson Australia, and VodafoneZiggo.[8]

In 2014, Read became the CFO of Vodafone Group plc and joined the company's main board. He was appointed Group CEO four years later in October 2018. In his role as CEO, he became a United Nations Broadband Commissioner and HeForShe alliance champion.[9][10] Read also joined the board of Booking Holdings Inc as a non-executive director in 2018 and member of the audit committee.[11] In December 2022, it was announced that Read would be stepping down as Group CEO of Vodafone; he remained as an advisor to Vodafone's board until 31 March 2023.[12] Read joined the supervisory board at Manchester Metropolitan University in April 2023.[13]

Since Vodafone, Read has focused on global digital infrastructure investments and in June 2023, was appointed chairman of EXA Infrastructure.[14] EXA has a fibre network spanning EMEA, across the Atlantic, and on the east coast of the United States, providing connectivity to hyperscalers, telecom operators, governments and large enterprises.[15] In September 2023, Read was appointed as a senior advisor to Global Infrastructure Partners, a leading infrastructure fund with $100 billion under management.[16] He continues to serve as non-executive director at Booking.com.[2]

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Nick Read

View on Grokipedia
from Grokipedia
Nick Read is a British businessman who served as the chief executive officer of Vodafone Group plc from 1 October 2018 to 31 December 2022. Read earned a BA (Hons) in Accountancy and Finance from Manchester Metropolitan University in 1986 and is a Fellow of the Chartered Institute of Management Accountants. Before joining Vodafone in 2001 as finance director for its UK operations, he held senior global finance positions at United Business Media plc and as vice president and CFO for Europe, Middle East, and Africa at FedEx Corporation. At Vodafone, he progressed through key leadership roles, including chief executive officer of Vodafone UK from 2006 to 2008, regional CEO for Africa, the Middle East, and Asia Pacific from 2008 to 2014, and group chief financial officer from 2014 to 2018. During his tenure as CEO, Read oversaw strategic initiatives in telecommunications, including mergers, divestitures, and expansions in digital services amid challenges like declining share prices and market competition. Following his departure from , where he remained an advisor until March 2023, Read has taken on several non-executive and advisory roles in digital infrastructure and technology sectors, including continuing as a at Inc. (since 2018) and serving as Chair of EXA Infrastructure and nLighten. He has also been recognized for contributions to and social impact, receiving an honorary from in 2022.

Background

Early life

Nicholas Jonathan Read was born on 29 September 1964 in the United Kingdom. As a British national, he grew up in , a modest area near , where his family faced financial challenges after his parents separated and his father lost his job. Read attended and . Read's childhood was marked by close family ties despite the hardships, including his fondness for his brother who has Down’s syndrome, and support from his parents amid tight finances. At the age of 14, he began working part-time in a warehouse for 15 hours a week to contribute to the household and avoid being a financial burden. These early experiences in a working-class British environment shaped his formative years and instilled a sense of responsibility.

Education

Nick Read earned his Bachelor of Arts (Honours) in Accountancy and Finance from Manchester Metropolitan University, then known as Manchester Polytechnic, in 1986. This undergraduate degree reflected his early interest in finance, providing a foundational qualification that supported his initial entry into the financial sector. Following his undergraduate studies, Read pursued professional accreditation as a Fellow of the (FCMA), a designation that underscores advanced expertise in and strategic . This qualification built upon his academic background, aligning with his growing focus on roles in .

Professional career

Early positions

Following his graduation with a BA (Hons) in Accountancy and Finance from , Nick Read entered the professional workforce in the late , beginning a career focused on and operations in international business. His early roles built foundational expertise in financial planning, analysis, and strategic operations across diverse sectors. Read's first professional position was with Federal Express Corporation (FedEx), where he spent approximately 10 years from 1989 to 1999 in various senior finance roles across the , , and the . He started as Director of Financial Planning and Analysis (FP&A) for the and from 1989 to 1992, overseeing budgeting, forecasting, and performance metrics for regional operations. Subsequent positions at FedEx expanded his responsibilities to include global and operational efficiency in , honing skills in cross-border strategy and delivery. From 1999 to 2001, Read transitioned to United Business Media Plc (UBM), a media and events company, where he held senior global finance positions, including Head of Senior Global Finance and divisional roles. In these capacities, he managed financial operations for international divisions, previously known as Miller Freeman Worldwide, emphasizing corporate strategy, retail operations, and leadership of customer and service functions. This period solidified his experience in high-stakes financial oversight and operational leadership in dynamic, global environments prior to his entry into the sector.

Career at Vodafone

Nick Read joined Vodafone in 2001 as the of its UK operating company. In this role, he oversaw financial operations for 's key domestic market during a period of rapid expansion in mobile services. Read advanced within the UK organization, becoming in 2003, where he developed commercial strategies focused on customer growth and service innovation. By 2006, he was appointed CEO of , leading operational efforts that strengthened market positioning through enhanced network investments and competitive offerings. In 2008, Read transitioned to a regional leadership position as CEO of Vodafone's Africa, Middle East, and Asia Pacific (AMAP) operations, where he drove the expansion of mobile financial services, notably M-PESA, to underserved markets. This role involved managing diverse markets with a focus on sustainable growth and digital inclusion. Read returned to a group-level executive position in 2014 as , joining the Group Plc Board on April 1 of that year. As , he led the company's financial restructuring, implementing measures to improve efficiency and strength amid competitive pressures. His tenure in this position lasted until July 2018, capping a 17-year progression at marked by expertise in financial management, commercial development, and regional operations.

CEO tenure at Vodafone

Nick Read was appointed Group Chief Executive of Vodafone on 1 October 2018, succeeding who had led the company since 2008. As CEO, Read prioritized streamlining operations by focusing on core markets in and , divesting non-core assets to reduce debt and enhance efficiency. Key initiatives included aggressive cost-cutting measures, such as a plan to reduce operating costs by €1.2 billion by 2021, and reviewing tower infrastructure for monetization. In 2022, Vodafone completed a significant asset sale involving its Vantage Towers unit to KKR and , valuing the entity at €16 billion and allowing Vodafone to retain co-control while extracting value from its infrastructure. Additionally, Read oversaw the 2018 merger of with to form , though the venture faced ongoing challenges and received no further equity investment from the group. During his tenure, Read emphasized to drive efficiencies and growth, including an insourced model that centralized operations and accelerated adoption across Vodafone's networks. Efforts to stabilize revenue showed some progress, with group revenue growing in fiscal year 2020 amid underlying momentum, and the company maintaining connectivity for customers through the . However, overall performance was hampered by a lack of significant growth, leading to board dissatisfaction. Vodafone's share price declined by approximately 44% from October 2018 to late 2022, exacerbating investor frustrations. Failed merger attempts, including pursuits in the UK with and in where suitable deals did not materialize, further constrained scale and returns, particularly amid regulatory hurdles and pandemic-related pressures from activists like . Read's departure was announced on 5 December 2022, with him stepping down as CEO and director on 31 December 2022, while serving as an until 31 March 2023 to support the transition. The board cited the need for new leadership to capitalize on 's opportunities, following a tenure marked by portfolio simplification but insufficient progress on growth. For his final nine months in 2022-23, Read received total compensation of £3.875 million, including base salary, bonuses, and share awards.

Post-Vodafone roles

Following his departure from in December 2022, where he served as an advisor to the board until March 2023, Nick Read transitioned to a portfolio of non-executive and advisory roles focused on digital and . In June 2023, he was appointed Chair of the at EXA Infrastructure, a global digital infrastructure provider specializing in subsea and terrestrial fiber , leveraging his extensive experience in telecom operations to guide the company's expansion in and beyond. Read continued his role as a on the board of Inc., a position he has held since June 2018, contributing to audit and strategic oversight for the global company amid its post-pandemic recovery and digital innovation efforts. In 2023, he joined the board of Radius Global Infrastructure as a , supporting the tower company's growth in acquiring and managing critical digital infrastructure sites across and . He also serves as a non-executive director on the supervisory board of Vantage Towers through the Oak Consortium. In advisory capacities, Read serves as a senior advisor to (GIP), now part of , providing strategic guidance on infrastructure investments in and sectors. He also acts as a consultant to , an infrastructure investment firm, focusing on opportunities in data centers and digital connectivity to capitalize on the rising demand for high-capacity networks. This advisory work draws on his over 30 years in the industry, emphasizing sustainable growth in and fiber infrastructure. Read's non-executive leadership culminated in February 2025 with his appointment as Chair of nLighten, a European edge data center operator backed by I Squared Capital, where he aims to drive innovation and expansion across 34 facilities to meet surging AI and cloud computing needs. On 1 October 2025, Read was appointed as an Independent Non-Executive Director on the board of Altice France. These roles mark Read's strategic pivot from operational CEO responsibilities to influential oversight in the evolving digital infrastructure landscape, particularly in telecom-adjacent technologies.

Recognition

Academic honors

In 2022, Nick Read was awarded an Honorary (DBA) by , his , in recognition of his significant contributions to the development of the business and telecommunications sectors, as well as his work in charitable causes. This accolade highlights Read's post-graduation impact on business practice, building on his foundational that included a BA (Hons) in Accounting and from the university in 1986. In April 2023, Read joined the Board of Governors of .

Professional recognitions

In 2023, Nick Read received the AACSB Influential Leader award for his contributions to community and social impact, recognized through his affiliation with the Business School at . This accolade highlights his leadership in fostering partnerships and digital inclusion initiatives during and after his CEO tenure at . Read's role in the Broadband Commission for Sustainable Development further underscores his recognition as a key figure in transformation. Appointed as a in , he co-chaired the Working Group on Smartphone Access alongside ITU Secretary-General Houlin Zhao, focusing on strategies to enhance affordable connectivity and address digital divides globally. Read has also engaged in community leadership through Concordia, where he spoke at the 2020 UN75 summit on the future of international cooperation as part of 's sponsorship, promoting collaborative approaches to global challenges like digital equity. His extensive senior roles at , including as Group CEO, are prominently featured in the Centre on Regulation in Europe's (CERRE) biography, affirming his strategic impact on European telecom policy and regulation.

References

  1. https://cerre.eu/biographies/nick-read/
  2. https://www.vodafone.com/news/corporate-and-financial/vodafone-group-chief-executive-step-down-interim-group-chief-executive
  3. https://www.mmu.ac.uk/individual-profile/nick-read
  4. https://www.broadbandcommission.org/commissioner/nick-read/
  5. https://www.bloomberg.com/profile/person/16337470
  6. https://www.reuters.com/business/media-telecom/vodafone-ceo-nick-read-step-down-2022-12-05/
  7. https://ir.bookingholdings.com/governance/board-of-directors/person-details/default.aspx?ItemId=131fa24d-8925-404a-808d-5f48bad1f914
  8. https://www.thetimes.com/business-money/companies/article/vodafone-boss-nick-read-stop-investors-hanging-up-stock-market-37lp0qxsz
  9. https://telcomagazine.com/mobile-operators/executive-profile-nick-read-ceo-vodafone-group
  10. https://www.marketscreener.com/insider/NICK-READ-A0EG1J/
  11. https://www.vodafone.com/news/corporate-and-financial/board_change2012
  12. https://www.broadbandtvnews.com/2018/05/15/nick-read-to-head-vodafone/
  13. https://www.sec.gov/Archives/edgar/data/839923/000110465906023255/a06-8676_16k.htm
  14. https://www.aacsb.edu/about-us/advocacy/member-spotlight/influential-leaders/2023/nick-read
  15. https://www.concordia.net/community/nick-read/
  16. https://www.vodafone.com/news/corporate-and-financial/group-chief-executive-succession
  17. https://www.cnbc.com/2018/11/13/vodafones-new-ceo-to-cut-costs-review-tower-assets.html
  18. https://www.reuters.com/markets/deals/vodafone-sell-slice-vantage-towers-kkr-other-investors-2022-11-09/
  19. https://www.financialexpress.com/business/industry-vodafones-future-in-india-ceo-nick-read-says-very-critical-situation-after-latest-setback-1762503/
  20. https://www.cio.com/article/416413/inside-vodafones-insourced-model-to-increase-efficiency-and-growth.html
  21. https://www.vodafone.com/news/public-policy-news/fy20-preliminary-results
  22. https://www.bloomberg.com/news/articles/2022-12-05/vodafone-chief-executive-nick-read-will-step-down-at-year-end
  23. https://news.sky.com/story/vodafone-hangs-up-on-ceo-amid-frustration-for-nick-read-and-investors-alike-12762247
  24. https://www.moneycontrol.com/news/world/vodafone-ceo-nick-read-ousted-after-commercial-challenges-9652191.html
  25. https://www.lightreading.com/finance/vodafone-ceo-pay-soars-despite-not-good-enough-verdict
  26. https://exainfra.net/about-us/exa-infrastructure-leadership/nick-read/
  27. https://exa-prod-appsvc.azurewebsites.net/media-centre/press-releases/exa-infrastructure-names-nick-read-as-new-chairperson-to-support-growth-and-innovation/
  28. https://www.telcotitans.com/infrawatch/ex-vodafone-ceo-nick-read-joins-another-digital-infra-boardroom/8956.article
  29. https://www.datacenterdynamics.com/en/news/nlighten-names-former-vodafone-ceo-nick-read-as-chair/
  30. https://www.nlighten.com/en/nlighten-strengthens-leadership-team-with-appointment-of-nick-read-as-chair-of-the-board/
  31. https://static.s-sfr.fr/AlticeFrance/investors/press-releases/AlticeFrance-announces-successful-implementation-financial-restructuring.pdf
  32. https://www.telecoms.com/broadband/exa-infrastructure-appoints-former-vodafone-boss-nick-read-as-chairman
  33. https://www.mmu.ac.uk/news-and-events/news/story/university-awards-honorary-degrees-inspirational-business-leaders
  34. https://www.broadbandcommission.org/working-groups/smartphone-access/
  35. https://www.concordia.net/newsroom/blog/concordia-welcomes-vodafone-as-a-2020-programming-sponsor/
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