Vodafone mulls £1.5m Gent bonus

Second half of Mannesmann bonus...

Vodafone's remuneration committee is mulling whether a £1.5m bonus for CEO Chris Gent should be approved by shareholders. Although Gent has met all the targets required to secure the bonus, Vodafone's share price recently crashed to a four-year low last month and executives are frightened of a shareholder backlash. The bonus is the second part of a £10m award awarded to Gent in 2000 following the takeover of Mannesmann. The second part of Gent's bonus shares were worth £5m when awarded, but have since depreciated to £1.5m. The remuneration committee is set to meet in the next two weeks, reports the Financial Times.