Arun Sarin Stays

Vodafone isn’t doing too well at the moment, but Arun Sarin will stay as CEO. “At today’s Annual General Meeting in central London, around 85% of current shareholders voted to keep Arun Sarin as company CEO, with 5% of shareholders abstaining. Some large shareholders, notably Standard Life (who hold 1.7% of Vodafone) and Morely Fund Management (who own 2.1%), chose to publicly announce they would vote against the re-election of Mr Sarin as CEO.”
I thought a figure of 85% was pretty good, but apparently it’s “one of the biggest protest votes against a FTSE 100 chief” (TimesOnline).
There seems to be a change in the rhetoric about a possible sale of Vodafone’s 45% share of Verizon Wireless to Verizon…”MacLaurin reiterated that Vodafone remained happy with prospects for its U.S. joint venture Verizon Wireless, but that it would consider any offer for its 45 percent stake in the business…”We remain happy with the prospects for the business. If we receive a compelling offer for the business we would consider what is best for shareholders,” he said. (<a href="http://today.reuters.com/business/newsArticle.aspx?type=ousiv&storyID=2006-07-25T172502Z_01_L25437397_RTRIDST_0_BUSINESSPRO-TELECOM-VODAFONE-AGM-DC.XML&pageNumber=2&imageid=

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