Vodafone's Sarin survives

BELEAGURED VODAFONE CEO, Arun Sarin, survived shareholder fury at yesterday's shareholder meeting. He was given muted support by the mobile company's new chairman, Sir John Bond.

Bond said Sarin's performance would be under “constant review”. The worst aspect to the meeting was when 20.2 per cent of its shareholders abstained or voted against its management remuneration policy.

Some 6 per cent of Vodafone's shareholders were against the re-election of Luc Vandevelde, the chairman of the company's remuneration committee.

Putting a spin on the opposition to his re-election, Sarin claimed, "85 per cent of the people who voted said 'the strategy of the firm, the direction of the firm, is fine'".

Hopefully Sarin can now draw a line under all of the criticism and go back to winning more subscribers. The INQ is waiting to see what Vodafone will do about the US market, too.

More at the FT. µ