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Vodafone executives to earn £56M from Verizon deal

  • Vodafone's (VOD) senior team of 250 managers will make £56M when the U.K. carrier completes the sale of its 45% stake in Verizon Wireless to Verizon Communications for $130B.
  • Vodafone has promised to use the proceeds of the deal to pay 112 pence a share to its stockholders in cash and Verizon Communications shares.
  • As owners of 50M Vodafone shares, the managers will receive £16M in cash and £40M in Verizon stock. CEO Vittorio Colao will get over £10M, not far off the £11M salary he earned last year.
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Comments (3)
  • Veritas1010
    , contributor
    Comments (1688) | Send Message
     
    Trickle down is better than political 'wah-wah' from Washington and 'ata-boys' at work!

     

    I'll take the $ and re-invest in more T, VOD and oil & gas!
    21 Oct 2013, 12:47 PM Reply Like
  • rw1270
    , contributor
    Comments (389) | Send Message
     
    The report is a gross misrepresentation. If Colao gets shares of Verizon and cash payout from his ownership of Vodafone shares, it means he doesn't "get" anything over what he already owns. This is only change of structure of the ownership, not actual added payment. As cash and shares are paid out, remaining value of Vodafone shares will be reduced. So all happened there is swap of one form of property into another, just like for other shareholders. Unless money grows on trees, of course.
    21 Oct 2013, 01:25 PM Reply Like
  • rrosey2
    , contributor
    Comments (784) | Send Message
     
    Every time there is any transfer, the executives seem to "get paid off".
    Not for their work, but for their vote.
    21 Oct 2013, 03:55 PM Reply Like
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