Arun Sarin re-elected but losing shareholder’s faith

Arun Sarin, chief executive officer of the British mobile phone giant Vodafone has managed to defeat his distracters and has been re-elected to the position in the company. However, he just about managed to win 85.7 percent of proxy shareholder votes.

As many as 9.5 percent of proxy votes were against his re-election as the chief executive of the company. 4.8 percent of the shareholders could not participate in the proceedings.

Institutional investor Standard Life Investments was one of the big shareholders in the company which confirmed publicly that they voted against Sarin’s re-election and the remuneration package, which was also approved by around 80.5 percent proxy votes.

SLI said in a statement on these new developments: “We opposed the re-election of Arun Sarin and the remuneration report. This reflects the importance we attach to leadership at Vodafone and our concerns about Vodafone’s remuneration policies, which in our opinion provide significant rewards for achieving unchallenging performance conditions.”