Vodafone's Arun Sarin to retire

Vodafone has announced that Chief Executive Arun Sarin is retiring in July after five years in the role. He will be replaced by current Deputy Chief Executive Vittorio Colao. Mr Colao was appointed Chief Executive of Vodafone's European businesses and Deputy Group Chief Executive of Vodafone Group plc in October 2006. The company has also announced its annual results, with profits up 5.7% to £10.1 billion and a proportionate mobile customer base of 260 million people worldwide. [CEO press release; results press release]