Former Vodafone boss picks up more than £4m in pay and bonuses in 2022-23
The mobile phone giant’s annual report shows that Mr Read picked up a pay package worth £3.9m for 2022-23, which also included a £1.6m shares award for a previous long-term bonus scheme that is due to pay out in August. On top of this, he received £270,375 in salary for the first three months of 2023, when he remained an adviser to the board, and will be paid £732,629 in lieu of salary, plus benefits, for the remainder of his 12 months’ notice period until March next year.
Vodafone added it will pay up to £7,000 towards legal fees in connection with his departure and said he is entitled to “outplacement support” worth up to £50,000.
Mr Read left on December 31 after four years as group chief executive just weeks after unveiling an £880m plan to slash costs and warning over job cuts and price hikes.