Vodafone directors pocket £11m bonuses

Vodafone
directors awarded themselves another £11m in bonuses last night – just hours
after facing down private shareholder outrage over boardroom windfalls.

Arun
Sarin, new chief executive at the mobile phone giant, was conditionally awarded
£2.4m in shares, and 7.1m options worth more than £1.4m.

Operations
director Julian Horn-Smith, finance director Ken Hydon and executives Peter
Bamford and Thomas Geitner also received substantial bonuses.

The
company said the awards will depend on future share price and earnings
performance over the next three years.

Hours
earlier, the Vodafone board faced an angry annual meeting.

“It
seems to me that we are the risk-takers and you are the money-takers,’” said
one investor, attacking boardroom bonuses and “pensions to die for”.

By Daniel Thomas

Comments are closed.