This has been all over the TV news in the UK today. With recent announcements of problems at Vodafone and a general slump in it's share price, at today's Annual General Meeting in central London, around 85% of current shareholders voted to keep Arun Sarin as company CEO, with 5% of shareholders abstaining. Some large shareholders, notably Standard Life (who hold 1.7% of Vodafone) and Morely Fund Management (who own 2.1%), chose to publicly announce they would vote against the re-election of Mr Sarin as CEO.

Vodafone has seen a decline in it's shareprice since November last year, with shares trading for around 115p at today's prices, from a 12 month high of 155p in August 2005. The result of today's shareholder vote is being seen as a warning shot to the board of directors, especially as only 80% of shareholders voted to approve the proposed remuneration report, with most shareholders voting by proxy.