Verizon loses CFO to VimpelCom

Russian operator VimpelCom has poached the CFO of Verizon Wireless, Andrew Davies, and will install him as group CFO in January 2014.

Davies will succeed Henk van Dalen, whose contract actually ends this month, however Henk has agreed to fulfil the role on an interim basis to ensure a seamless handover of responsibilities at year end.

Davies is technically employed by Verizon shareholder Vodafone, the company said, and he previously held a number of senior financial roles within Vodafone Group prior to his appointment at Verizon, latterly as CFO of Vodafone India and Vodafone Turkey and including positions in Vodafone UK and Vodafone Japan.

The news marks the third high profile departure for Vodafone in the last week. On August 2 the enterprise director of Vodafone UK, Peter Kelly, announced he will take on the role of managing director at Virgin Media Business on September 16, 2013.

While a day before, Vodafone UK’s CIO, Mark Dearnley, said he will step down and take on the role of chief digital and information officer at the HM Revenue and Customs (HMRC) in October this year.

VimpelCom said on Wednesday that revenues for 2Q13 remained flat year on year at $5.7bn, while net income rose 17 per cent to $533m. Subscribers increased by ten million year on year to 215 million at end June.