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.

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