**Vodafone Appoints Pilar López as New CFO Amid Strategic Shift**
Vodafone Group Plc has announced the appointment of Pilar López as its new Chief Financial Officer (CFO), following the departure of Luka Mucic, who is set to leave the company at the end of November. López will officially take on the CFO role after joining as CFO designate in October.
López comes to Vodafone from Microsoft Corp., where she held several senior positions, including Chief Operating Officer for Western Europe and Country Lead for Spain. Her extensive experience also includes 16 years at Telefonica SA, where she served on the supervisory board of the company’s German unit.
This leadership change occurs at a pivotal moment for Vodafone, as Chief Executive Officer Margherita Della Valle is working to refocus the company on its core markets. This strategy follows the sale of underperforming assets and a recent merger agreement with CK Hutchison Holdings Ltd.’s Three in the UK. Despite these efforts, Della Valle’s promised turnaround has yet to yield results, with Vodafone’s share price declining approximately 22% since her appointment in 2023.
In her new role, López will collaborate with Della Valle to enhance Vodafone’s service offerings, streamline operations, and achieve sustainable growth in free cash flow. Her experience in the German market could prove particularly beneficial, as this region accounts for about a third of Vodafone’s revenues and has faced significant customer losses due to regulatory changes affecting bundled services.
Mucic, who has served as Vodafone’s CFO since 2023, is leaving to take the helm at Vonovia SE, Germany’s largest landlord. He previously held a similar position for nearly a decade at SAP SE, where he began his career.
López will receive a base salary of £725,000 ($971,680), with a potential bonus of up to 200% of her base pay and long-term incentives reaching 450%. In comparison, Mucic’s base salary was £760,000. As of Thursday morning, Vodafone shares were trading at 75.28 pence, reflecting a 10% increase this year.
**FAQ**
**What is the significance of Pilar López’s appointment as CFO of Vodafone?**
Pilar López’s appointment is significant as it comes during a critical period for Vodafone, where strategic refocusing and operational improvements are essential for reversing recent declines in share price and customer retention, particularly in the German market.