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Chris Gent's generosity continues – for himself
How d'you fancy £800,000 Chris? I do, Chris
Chris Gent's generosity knows no bounds. Having announced a massive share option scheme for Vodafone staff yesterday, he promptly treated himself to the same.
And just to deflect claims he was going soft, this immodest man awarded himself a disproportionate amount of shares. Eight million of them. Which, at the price of 157.5p, amounts to a tasty £835,000.
But then he's going to need them - his current shareholding in his company is worth half what it was this time last year. You can't expect him to live like a pauper. Besides, the £10 million he awarded himself for pulling off the Mannesmann deal has already gone on furnishings.
More interesting Gent finance factoids: under a previous deal, he will get another million or so shares at 151.5p; since Vodafone's share price went up by 10p yesterday, he has made £1.1 million in the last 24 hours; he earns just under £7 million a year for his work as CEO. Nice work if you can get it.
Despite some crazy people suggesting that the award was a little excessive, the company gave a perfectly reasoned argument: "These options were approved at the last AGM," said a spokesmonkey. And of course they are reliant on him meeting performance targets. Which, er, he and his directors kinda decide themselves.
Imagine the fattest cat you have ever seen. Now think Jumbo Jet. ®