Sarin may venture into PE business

Arun Sarin, who is retiring as Vodafone CEO in July, is likely to venture into private equity business and may also join boards of large int'l companies.

Indian-origin telecom titan Arun Sarin, who is retiring as Vodafone CEO in July, is likely to venture into private equity business and may also join boards of large international companies as a non-exeuctive director.

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The high profile India-origin Chief Executive of Vodafone will step down after five years in the post on July 29, the company said on Tuesday.

Sarin, who has led Vodafone since 2003, will be replaced by Vittorio Colao, Sarin's deputy head of British telecom giant's sprawling European operations.

"I feel that I have accomplished what I set out to achieve, particularly in developing and implementing a new strategy," Sarin said in a statement.

Besides venturing into PE business, Sarin, 53, is also likely to take several non-executive board seats at large international companies.