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Vodafone Paid Former CEO Arun Sarin $14.4 Million

imageVodafone (NYSE: VOD) paid Arun Sarin £8.8 million ($14.4 million) in salary and bonuses for four months of work last year as head of the telecoms giant, reports the Telegraph.co.uk. According the the company’s annual report released Tuesday, Sarin received:

—£436,000 ($713,839) in basic salary
—£434,000 ($710,714) in short-term bonus shares
—£546,000 ($894,000) in dividend payments and extra awards, including £500,000 ($818,623) to help relocate Sarin back to the US.

Sarin was also granted incentive shares worth £6,860,079 ($11.2 million) when they were vested to him last summer. In all, not a bad amount to go “goof about,” as Sarin said he wanted to do after his five-year tumultuous turn as chief executive of the world’s biggest carrier by revenues.

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Jun 4, 2009 5:10 AM ET
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Posted In: Companies, Vodafone

  • Sarin is part of a UCB OE program: $3 Million Extravagant Spending by UC President Yudof for UC Berkeley Chancellor Birgeneau to Hire Consultants - When Work Can Be Done Internally & Impartially
    These days, every dollar counts. Contact Senate (Ms. Romero 916.651.4105) & Assembly (Ms. Brownley 916.319.2044) Chairperson’s Education Committees or your representatives. 
    Do the work internally at no additional costs with UCB Academic Senate Leadership (C. Kutz/F. Doyle), the world – class UCB faculty/ staff, & the UCB Chancellor’s bloated staff (G. Breslauer, N. Brostrom, F. Yeary, P. Hoffman, C. Holmes etc) & President Yudof.
    President Yudof’s UCB Chancellor should do the high paid work he is paid for instead of hiring expensive East Coast consults to do the work of his job. ‘World class’ smart executives like Chancellor Birgeneau need to do the hard work analysis, and make the tough-minded difficult, decisions to identify inefficiencies.
    Where do the $3,000,000 consultants get their recommendations?
    From interviewing the UCB senior management that hired them and approves their monthly consultant fees and expense reports. Remember the nationally known auditing firm who said the right things and submitted recommendations that senior management wanted to hear and fooled the public, state, federal agencies?
    $3 million impartial consultants never bite the hands (Birgeneau/Yeary) that feed them!
    Mr. Birgeneau’s accountabilities include “inspiring innovation, leading change.”  This involves “defining outcomes, energizing others at all levels and ensuring continuing commitment.”  Instead of deploying his leadership and setting a good example by doing the work of his Chancellor’s job, Mr. Birgeneau outsourced his work to the $3,000,000 consultants.  Doesn’t he engage UC and UC Berkeley people at all levels to examine inefficiencies and recommend $150 million of trims?  Hasn’t he talked to Cornell and the University of North Carolina - which also hired the consultants—about best practices and recommendations that will eliminate inefficiencies?
    No wonder the faculty, staff, students, Senate & Assembly are angry and suspicious.
    In today’s economy three million dollars is a irresponsible price to pay when a knowledgeable ‘world-class’ UCB Chancellor and his bloated staff do not do the work of their jobs.

     

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