Vodafone boss survives
Shareholders' revolt fails
Posted in Mobile, 26th July 2006 09:04 GMT
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Vodafone boss Arun Sarin survived a hostile meeting with shareholders yesterday and was reappointed chief executive.
Some 10 per cent of shareholders voted against his reinstatement and over 20 per cent did not support the company's executive pay scheme, The Telegraph reports.
The board faced almost an hour of questions from angry shareholders who bemoaned Vodafone's poor performance and the generous way it rewards management.
One described the board as "dysfunctional" and said "there is a perception that the chief executive is underperforming"
Newly-appointed chairman John Bond said he supported Sarin but that his performance would be under constant review. More from The Guardian here. ®
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