Ex-Vodafone boss handed £4m pay package despite sacking for lacklustre performance
What’s actually happening:
Former Vodafone boss Nick Read took home more than £4m in pay and bonuses last year despite being ousted following a dramatic slump in the company’s share price.
Mr Read, who left Vodafone in December after four years as chief executive, received a payout of £3.9m in the year to March, which included a £900,000 annual bonus.
He was also handed £270,000 in the first three months of 2023 for his work advising the board and will be paid more than £730,000 over the remainder of his 12-month notice period.
He has a contract. Vodafone is obeying the law and stocking to the contract.
What does anyone want them to do? Break the contract?