The ex-boss of Vodafone Arun Sarin took relocation payments of £500,000 to get himself and his luggage back to the US after leaving the mobile giant. Admittedly unlike most of the MPs caught up in the expenses row, Sarin did deliver profits of over £10bn at the firm he ran for five years. He also worked hard to win over a …
He delivered £10bn in profits
wow - he delivered £10bn in profits, all by himself? he must have been run ragged manning all those call center posts while simultaneously working as network engineer, wireless engineer, handset engineer and sales person.
But I'm sure it was written into his contract that Vodafone was to pay his resettlement costs when he left (they probably didn't expect him to fly his 40ft containers back though). At least he had the decency to make them a profit before he left.
it's possibly the same way banks measured profit, lend someone £100 million at 10% interest and instantly declare a £10 million profit, even though you are actually £100 million down until it's paid back, if it's paid back.
I don't mind too much really
I don't know the full details but on the face of it haf-a-mill seems reasonable if the 10 bill are true reflections of one's abilities.
It's the 17 mill handshake pension of an organisation in freefall meltown that I consider to be well and truly dodgy.
Sarin was a decent CEO, and the company did make money, and I don't really mind a good CEO being well paid - it is bad ones being paid huge sums that I object to - however, how exactly does one spend £500,000 on relocation expenses. Individual seats in first class for each item of furniture? One can ship rather a few containers across the Atlantic for that much money I would think, particularly in the present depressed shipping market.
@ Michael Jennings. I could tell you but I'd have to shoot you.....u
It's not just shipping, he probably had a huge lease penalty on his car, selling expenses on his gated house ........ and probably some restoration expenses to remove his toys from both and put them back to 'vanilla' state........
We have the technology to rebuild him
the 10Billion dollar man, it is a bit like the central bank leaders they do so much work, it is not like anyone else does anything.
At least he contributed
At least he contributed something, unlike the scavengers in westminster who contribute nothing and take everything.