PracticeConsultingVodafone bonuses under threat

Vodafone bonuses under threat

Multimillion-pound fat cat bonuses raked in by Vodafone AirTouch finance director Ken Hydon and company directors following the £113bn takeover of Mannesmann, are under threat from the National Association of Pension Funds.

Hydon is set to receive a £2m cash and shares windfall, while chief executive Chris Gent is due for a £10m bonus following the takeover earlier this year. Vodafone shareholders have been urged by the NAPF to abstain from the board renumeration vote later this month at the company’s annual meeting.

The NAPF want shareholders to register concern over the contract drawn up for Gent and Hydon, as well as the scale of the bonus payments.

Members of the NAPF include some of the UK’s biggest institutional investors whohave the clout to force the UK’s largest company into an embarrassing climbdown.

The millionaire’s club

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