Vodafone Group PLC shares opened 1.7% lower on Wednesday, trading at 71.72p, after the company confirmed that Chief Financial Officer Luka Mucic will step down by early 2026. Mucic, who joined Vodafone in September 2023, is set to become the next chief executive of German real estate giant Vonovia, succeeding Rolf Buch at the end of the year.
The announcement comes at a pivotal time for Vodafone, which is undergoing a significant transformation to revive its performance, particularly in its core German market. Mucic’s departure, after less than three years in the role, surprised investors and analysts, raising questions about leadership stability as the telecoms group navigates ongoing operational challenges.
Vodafone stated that a rigorous search for Mucic’s successor is already underway. The company emphasized its commitment to maintaining momentum in its turnaround strategy and assured stakeholders that the transition would be managed smoothly.
However, some market watchers noted that the timing could complicate efforts to attract top talent, given the current industry headwinds and the need for continuity during a critical phase.
Mucic’s move to Vonovia marks a return to his native Germany and a shift to one of Europe’s largest listed property companies. Vonovia’s supervisory board highlighted Mucic’s extensive experience in both B2B and B2C sectors, including his previous roles as CFO and COO at SAP, as key assets for the company’s next phase of growth.
Vodafone’s shares reflected investor caution, falling more than 1% after the news broke. The broader FTSE 100 index also edged lower, mirroring a weaker start for European markets amid cautious sentiment and ongoing macroeconomic uncertainty.
As Vodafone prepares to report its annual results on May 20, attention will be focused on the company’s succession plans and its ability to sustain progress in its strategic transformation.
The search for a new CFO is seen as a crucial step in ensuring continued stability and confidence among investors and stakeholders.