Mobile phone operator says Sarin will be replaced with his deputy, Vittorio Colao.<br><br>LONDON
 (AP) -- Mobile phone company Vodafone PLC on Tuesday announced a return
 to full-year net profit from a loss the previous year, and said chief 
executive Arun Sarin would step down at the end of July.<br><br>Sarin has held the top job for five years and will be replaced by his deputy, Vittorio Colao.<br><br>The
 departure of Indian-born Sarin, 53, came as a surprise to many. He 
faced disquiet two years ago, when nearly 10% of Vodafone shareholders 
voted against his re-election as chief executive.<br><br>But the company
 has since outperformed analysts' forecasts and enjoyed revenue growth 
in fast-growing markets such as India and Turkey.<br><br>Under his tenure, Vodafone's (VOD) customer base from 120 million to 260 million around the world.<br><br>Sarin said he "felt the timing was right to handover as the company is in a good position strategically."<br><br>"I've achieved what I set out to achieve when I took the position," Sarin said in a conference call.<br><br>Vodafone shares rose 2.1% on the London Stock Exchange.<br><br>Vodafone said net profit for the year to March 31 was $13.25 billion from a net loss of $9.69 billion a year earlier.<br><br>Impairment
 charges on Vodafone's Italian and German operations contributed to the 
loss last year. The move to net profit was driven by cost reduction and 
outsourcing programs in Western Europe.<br><br>Revenues increased 14% to $70.2 billion from $61.48 billion the year before.<br>