Outgoing Vodafone boss Vittorio Colao got a £1.7m pay rise to take home £8m last year


Matt Oliver For The Daily Mail

Outgoing Vodafone boss Vittorio Colao steered the firm through a decade-long overhaul

Outgoing Vodafone boss Vittorio Colao steered the firm through a decade-long overhaul

Outgoing Vodafone boss Vittorio Colao steered the firm through a decade-long overhaul

Outgoing Vodafone boss Vittorio Colao was handed a £1.7million pay rise in his last full year before leaving the company.

After the Italian steered the firm through a decade-long overhaul, his departure – planned for September – was announced last month.

Yesterday Vodafone revealed Colao’s pay rose 26 per cent to nearly £8million in the year to March 31. 

It included a £1.2million salary, £1.5million bonus, £5million in performance pay and £276,000 for his pension.

Between 2008 and 2017 Colao, 56, was handed £60.2million – although during this time Vodafone shares have risen 44 per cent.

His major decisions included moving the firm’s HQ from Berkshire to London, agreeing the sale of its £84billion stake in US rival Verizon and last month’s £16billion deal to buy Liberty Global’s cable network in Europe.

However, he also presided over embarrassing episodes that saw Vodafone top Ofcom’s table of customer complaints and botch a computer systems update.

 

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