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Vodafone opens share option to staff worldwide

first_imgVodafone Group has offered share options to its global workforce in aneffort to improve company identity. The global employee share options are open to all 12,000 staff in 12different countries. They will have a face value equal to 50 per cent of the annual salary of thestaff member, regardless of position held. It will involve almost 240 millionshares with a provisional grant value of over £375m. Derek Steptoe, group compensation and benefits director for Vodafone, said,”The reason we have granted options is that Vodafone is trying to create asingle company. We have inherited a lot of subsidiary companies and one of ourstated objectives is to create a global company with a global presence.” The share options can be exercised after three years and up to 10 yearsafter the grant date. The company chose options rather than a share purchase scheme because itwanted everyone to participate, not just those staff who could afford to now. “Hopefully, it will incentivise them and have a retention effect, butthis is almost secondary to creating the global community,” said Steptoe. Comments are closed. Related posts:No related photos. Previous Article Next Article Vodafone opens share option to staff worldwideOn 24 Jul 2001 in Personnel Todaylast_img read more

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