Vodafone Group Plc, a British multinational telecom giant headquartered in Berkshire, England, has announced the appointment of Microsoft executive Pilar López as its new Chief Financial Officer. She will assume the role after the departure of Luka Mucic on November 30, 2025.
Vodafone Group Plc., a major telecommunications company headquartered in Berkshire, England, has named Pilar López as its new Chief Financial Officer, effective after November 30, 2025. She replaces Luka Mucic, who announced his departure last month.
López will join in October as CFO designate and formally step into the role following Mucic’s exit. She brings with her an extensive background in global technology and telecoms, having held key executive roles at Microsoft Corporation — including Chief Operating Officer for Western Europe and Country Lead for Spain. López also served for over 16 years at Telefónica SA and was previously on the supervisory board of its German subsidiary.
Her appointment comes during a transitional phase for Vodafone as CEO Margherita Della Valle continues to streamline operations, exiting underperforming markets and pushing for growth in its core regions. One major move under her leadership includes the planned merger with CK Hutchison Holdings Ltd.’s Three UK operations.
Della Valle’s leadership, however, has not yet reversed Vodafone’s declining share price, which has dropped about 22% since her appointment in 2023. López is expected to play a pivotal role in the turnaround by working on service improvements, operational efficiency, and generating sustainable free cash flow.
López’s experience in the German market is seen as a strategic asset, especially as Vodafone Germany, which contributes around a third of group revenue, is recovering from regulatory changes that caused mass customer exits.
Meanwhile, outgoing CFO Luka Mucic is set to take the helm at Vonovia SE, Germany’s largest landlord. Mucic joined Vodafone in 2023 after nearly a decade as CFO of German software firm SAP SE.
Vodafone announced that López will receive a base salary of £725,000 ($971,680 USD), with potential variable bonuses of up to 200% and long-term incentives up to 450%.
As of June 20, Vodafone shares were steady at 75.28 pence in London trading, reflecting a 10% year-to-date gain despite broader company restructuring.