Mobile phone giant Vodafone unveiled a new management team and structure aimed at cutting costs in mature markets, boosting growth in emerging markets and tapping new technologies.
The firm, battling with slower growth in core markets such as Germany and Italy, said it would be managed through three new business units - Europe; Central Europe, Middle East, Asia Pacific and Affiliates; and New Businesses and Innovation.
The revamp also includes the latest in a series of management changes by chief executive Arun Sarin, who has come under fire for the sluggish performance of Vodafone's shares.
Analysts said the new structure better reflected the challenges facing Vodafone, and were particularly interested by the firm's pledge to look at extending its reach in new technology areas such as converged services, which link mobile and fixed-line devices, and Internet services.
Vodafone said Bill Morrow, currently president of Vodafone's business in Japan, would be the chief executive of the new Europe unit. Vodafone agreed last month to sell its Japanese business to Softbank.
Paul Donovan will head the Central Europe, Middle East, Asia Pacific and Affiliates division. Thomas Geitner, currently group chief technology officer, will head the new businesses unit.
The appointments, which become effective on May 1st, follows a series of changes at the top of Vodafone as Sarin stamps his authority on the company following reports of boardroom splits.