Vodafone suits face revolt, vote

Jul 21 2006 - 01:26 PM ET | Vodafone

Executives of mobile phone carrier giant Vodafone are facing pressure from its shareholders. One of Vodafone's largest shareholders said he would vote against the re-election of CEO Arun Sarin. Other reports cite that shareholders controlling 7% of the company are ready to vote against Sarin. Over recent months investors have expressed their unhapiness and already several board members have stepped down.

Under Sarin, Vodafone's revenue growth has started to slow. Investor's are now pushing for a sale of Vodafone's 45% stake in Verizon Wireless.