Vodafone chief regrets pay fiasco
Fecha Viernes, febrero 21 @ 14:45:07
Tema Telecomunicaciones :: Smartphone
| Sir Christopher Gent has outlined this week that his biggest regret at Vodafone was failing to tell the board that his US-style pay scheme was overboard.
The outgoing CEO of the mobile phone giant is to step down in July after almost 20 years. Gent was awarded the industry’s lifetimes achievement award at the 3GSM Congress in Cannes this week and spoke candidly about his time at Vodafone in an interview with the Daily Telegraph.
Sir Christopher said that he wishes in hindsight that he hadn't accepted the massive pay packet.
"What they were proposing was partly based on American levels and people weren't ready for that," he said. "It should have been based on European levels." The pay package was thrown out by shareholders soon after.
The retiring chief also outlined his regret at not spotting sooner the threat posed by arch-rival Orange.
Asked why he had accepted the original package, Sir Christopher said: "I regretted that. I should have told the board sooner and more firmly that I did not seek that level of increase.
"I should have said the US level was a bridge too far." He denied, however, that he is leaving because of the controversy over his pay, which peaked in 2000 when he got a special award - initially worth £10m - in the wake of Vodafone's £102 billion takeover of Mannesmann.
"Some of the comments [about my pay] were not justified," he said. "But, if you haven't got a sense of humour, you shouldn't be in the job.
"I don't normally cry about the things that get written, most days I cry out loud laughing.
"Vodafone is an all-consuming job. I have been doing this for 18 1/2 years and you would need to have huge energy and drive to take this business to the next stage. I didn't want people asking, `What's Gent still doing there?' "
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