On Wednesday, Vodafone Group Plc announced Pilar López’s appointment as Chief Financial Officer Designate, effective October 1. Pilar will take over from Luka Mucic, who announced his decision to exit Vodafone on May 7.
López will begin a transition period in October, working closely with Mucic until his official exit on November 30. She will formally assume the roles of Chief Financial Officer and Executive Director on December 1, 2025.
Margherita Della Valle, Vodafone Group CEO, endorsed the appointment, saying, “I am delighted that Pilar will be joining Vodafone in October. She has deep-rooted knowledge of both the telecoms and technology sectors, across a range of international leadership positions. Following a significant period of change at Vodafone, Pilar is joining us as we continue to drive operational excellence across the Group.”
In response, López said that she was thrilled and looked forward to her new role.
“I’m thrilled to be joining Vodafone at such an important time in the Group’s transformation. I am excited to work with Margherita and the team as Vodafone continues to improve the service to its customers, further simplify operations across the Group, and deliver sustainable growth in free cash flow,” said López.
Jean-François van Boxmeer, Vodafone Group Chair, said: “Following an extensive and rigorous international search, I am very pleased to welcome Pilar to Vodafone and our Board. She brings strong experience from the finance, telecoms and technology sectors across Europe and is an excellent addition to our team.”
Pilar López’s portfolio
Pilar joins Vodafone from Microsoft, where she spent ten years in various high-level leadership roles, such as leading Microsoft’s collaboration with the London Stock Exchange Group and serving as COO for Western Europe and Country General Manager for Spain.
Pilar worked in various finance and senior leadership roles at Telefónica for 16 years before joining Microsoft. She has held positions as CFO of Telefónica Europe, CFO of O2 Plc, Global Simplification Director, Strategy & Business Development Leader in Spain, and Supervisory Board Member of Telefónica Germany.
J.P. Morgan was where Pilar started her career. Pilar was formerly a non-executive director of Ferguson Plc and is currently a non-executive director of Inditex S.A.
Pilar earned a bachelor’s degree in finance at Comillas Pontifical University.
Pilar Lopez’s remuneration
In accordance with Vodafone’s relocation and international assignment policies, which will cover (but not be limited to) immigration, relocation, housing, and tax advice, all remuneration arrangements are in accordance with the terms of the Directors’ Remuneration Policy, approved by shareholders at the AGM in July 2023. The policy includes assistance with relocation.
Pilar López, as Group Chief Financial Officer, will receive £725,000 as base salary, a 200 percent bonus of base salary, and a long-term incentive of 450 percent of base salary. She will also receive a pension of 10 percent of her base salary and a £19,200 car allowance.
About Vodafone
Vodafone is one of the top telecom providers in Africa and Europe. In addition to having one of the biggest IoT platforms in the world, it partners with mobile networks in over 40 countries and offers mobile and fixed services to over 340 million customers in 15 countries.
Its financial technology companies handle more transactions than any other provider in Africa, serving nearly 88 million clients in seven countries.
Its goal is to keep everyone connected by utilising technology to advance inclusive, sustainable societies and enhance lives and businesses. By 2040, it aims to achieve net zero emissions by minimising its environmental impacts.