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Vodafone leads the calls for independent chief of Facebook's cryptocurrency Libra  

Telegraph 08 Oct 2019 05:09

Vodafone has called for the rapid appointment of an independent chief executive of Libra to fully separate it from Facebook, as it reiterated its support yesterday for the troubled cryptocurrency project.

Nick Read, chief executive of the FTSE 100 mobile phone giant, said independent leadership was essential to guarantee the success of the ambitious scheme. 

“It needs a chief executive for that business,” he said. 

“The sooner a chief executive is appointed to lead it going forward that is not [from] Facebook, then people will then understand the ambition of the entity itself.”

Vodafone is one of the founding members of Facebook’s Swiss-based Libra Association, the governing body that will run the international digital coin.

Speaking with journalists at Vodafone’s Düsseldorf base, Mr Read said Vodafone remained fully committed to the project, which has suffered a string of problems including the loss of some key partners including PayPal. On Tuesday, The Telegraph revealed Libra had lost a key product executive.

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