Vodacom director Nick Read will step down from the board on February 5 following his recent appointment as chief financial officer designate of the Vodafone group. Read was appointed to the senior position at Vodafone, Vodacom’s UK-based parent company, on January 1. He has been serving on the board since September 2010, the telecoms firm announced in its 2013 annual report. He will be succeeded by Serpil Timuray, who also becomes a member of the Vodacom nomination and remuneration committee. She was appointed to the Vodacom board in September 2012. Vodacom declined 3.24 percent to close R126.75 on the JSE on Friday, after touching R131.45 during intraday trading.