Vodafone Group Plc Directorate Change (7994D)
April 01 2014 - 12:04PM
UK Regulatory
TIDMVOD
RNS Number : 7994D
Vodafone Group Plc
01 April 2014
Vodafone Group plc
Tuesday 1st April 2014
Retirement of Chief Financial Officer, Andy Halford
As previously announced, after almost nine years in role, Andy
Halford retired from Vodafone at the end of March 2014.
The information required to be made available pursuant to
section 430 (2B) of the Companies Act 2006 (to the extent it has
been finally determined) is set out below.
Payment in lieu of notice
Andy Halford retired on 31 March 2014. As per his contract Andy
Halford had a 12 months' notice period which commenced on 1 October
2013. He worked 6 months of his notice period - until the end of
the financial year. We will be making payments in lieu of notice
each month for the remainder of Andy Halford's notice period (1
April 2014 - 30 September 2014). The total of these payments will
be a maximum of GBP350,000 (six months' salary) subject to
mitigation if Andy were to start a new full-time executive role at
another organisation.
2014 Annual bonus payment
Andy Halford has worked for the full 2013/14 financial year and
so he will receive his annual bonus payment in June 2014. The
amount of his 2014 annual bonus will be confirmed in the 2014
Directors' Remuneration Report. There will be no annual bonus
payment for the 2014/15 financial year.
Long term incentive awards
The 2012, 2013 and 2014 GLTI awards (made in June 2011, July
2012, June 2013 and September 2013) will be pro-rated on a time
worked basis. These awards will vest, subject to performance, at
their normal vesting date, in accordance with the good leaver
provisions in our share plan rules. This information will be
updated in the 2014, 2015 and 2016 Directors' Remuneration
Reports.
Vodafone Sim Card
At a meeting of the Remuneration Committee held on 1 April 2014,
a Resolution was passed approving the provision of a SIM card to
Andy Halford for his personal use at the Company's expense for a
period of 3 years commencing 1 April 2014.
Benefits
Other than those aforementioned, Andy Halford will receive no
further benefits.
He took early retirement from the pension scheme in 2010 and he
has been in receipt of his pension since then.
END
This information is provided by RNS
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END
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