Gent angers Vodafone directors
Vodafone's non-executive directors have expressed fury over revelations that Sir Christopher Gent, the former chief executive, has attempted to meddle in boardroom affairs.
Sir Christopher stood down as an executive director almost three years ago, but his influence still looms large in the company he built up into a global mobile network operator over 18 years.
Last summer, he attempted to install two allies on the board, proposing a new finance director and non-executive director despite having no say in such matters, it emerged yesterday.
Frustrated that his suggestions, who included Scott Mead, the former Goldman Sachs banker, as a potential independent director, were knocked back, Sir Christopher decided to vote against the re-election of his successor, Arun Sarin. He later changed his mind, but infuriated the company's non-executive directors in the process. Industry sources said Sir Christopher could be forced to re-think his position as life president of the telecoms giant.
Meanwhile, pressure is piling on Mr Sarin, who is unpopular with some of the company's biggest shareholders. Former Vodafone directors are believed to be behind a whispering campaign against Mr Sarin, who has faced calls to resign from some investors.
Mr Sarin began unpicking Sir Christopher's legacy on Friday, when Vodafone announced it was in talks to sell a controlling stake in its underperforming Japanese business. It is believed Vodafone intends to exit the crucial Japanese market entirely. Softbank, Japan's leading broadband supplier, is taking Vodafone Japan off the UK company's hands.
Vodafone is tipped to hand the proceeds of the eventual sale, which could be up to £8bn, back to shareholders via a special dividend.
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