TUC targets ‘fat cat’ pay packages

The
TUC is campaigning against ‘fat cat’ pay packages – targeting an award of
millions of pounds proposed for chiefs at mobile phone company Vodafone.

A
rewards package planned at Vodafone would see chief executive Chris Gent earn
in long-term awards up to seven times his basic salary.

Tom
Powdrill, the TUC’s institutional investment officer, said the TUC plans to
target several other "strategic and symbolic" pay packages.

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The
TUC is calling for Vodafone shareholders to vote against the pay awards at the
company’s annual general meeting on 31 July.

By
Quentin Reade