The mobile group's chief financial officer Margherita Della Valle will take over as interim group chief executive, the company said.

"I agreed with the board that now is the right moment to hand over to a new leader who can build on Vodafone's strengths and capture the significant opportunities ahead," Read said.

(Reporting by Yadarisa Shabong and Paul Sandle in London; Editing by Saumyadeb Chakrabarty and Kate Holton)