Arun Sarin, the head of Britain’s biggest mobile phone company could walk off with a reported £25 million after announcing his unexpected departure from the group.
The Indian-born chief executive of Vodafone Ltd said last month that he would be stepping down at next month's annual meeting. He will stay as a consultant on a "nominal" salary until his retirement next March.
Having accumulated a total of £22 million in shares and a salary of just under £3.6 million last year, Sarin, credited with having transformed Vodafone into a global player, said that he intends to go travelling.
Salary and shares
Sarin’s replacement Vittorio Colao, will get a £975,000 salary in his first year compared with Sarin's £1.3 million but will also join a new incentive scheme, which could see him make up to £12 million in shares over three years on top of his annual bonuses if he hits maximum performance targets.
Sir Christopher Gent, Sarin’s predecessor at Vodafone walked away with a £15.5 million pension and about £6.5 million in salary, shares and share options for his final year when he retired at the end of 2003. He was also given a Bentley Arnage, worth £100,000.
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