Anupam Dutta appointed new MD of Kellogg's India
Mumbai: Anupam Dutta will take charge as managing director at Kellogg's India . Dutta, who was head of dairy business, Britannia New Zealand Foods, will exit the company by the end of this month. He will assume office in Kellogg's on July 2. He will be based out of Mumbai.

Meanwhile, Britannia New Zealand Foods has appointed Vinod Menon as the new head of its dairy business, with immediate effect, in place of Anupam Dutta, who will shortly be leaving the company.
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Vodafone chief Sarin gets an 18 per cent pay hike
Mumbai: Vodafone chief executive Arun Sarin saw his pay package rise nearly 20 per cent in the last financial year as he achieved many of the mobile phone group's internal performance targets.

Sarin received £1.27 million in salary and £1.93 million in share awards taking the pay package to over £3.2m, up 18 per cent from last year, figures published in the group's annual report showed. He also received £2.89m in shares from a long-term incentive programme.

Executive bonuses for the next financial year will be based on Vodafone achieving earnings-per-share growth of between 5 and 8 per cent, down from 5 to 10 per cent a year ago.

Vodafone beat market forecasts last month after announcing operating profit would be potentially flat in the coming financial year while it forecast that 2008 sales would exceed some estimates because of higher growth in emerging markets.

The shares have risen 40 per cent in the past 12 months as investors have increasingly come round to the board's strategy that has emerging markets as its growth engine while mature markets come under price and regulatory pressures.

Vodafone caused consternation among some shareholders last year by proposing changes to its pay policy, potentially linking directors' bonuses to four performance measures: revenues, earnings before interest and tax, free cash flow and "customer delight", an independently defined measure of customer satisfaction.

The group said the lowering of the target again for 2007-08 matched changing market conditions.

Meanwhile, Efficient Capital Structures, an activist investment group backed by former Marconi executive John Mayo, has successfully requisitioned four proposals to be put to the group's annual meeting next month, the annual report showed.

ECS wants the group to restructure its balance sheet and create a tracking stock in its investment in Verizon Wireless to create shareholder value, but Vodafone has urged shareholders to reject the proposals.
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Arun Sarin gets fetter paycheck than Mittal
New Delhi: Arun Sarin, the chief executive officer of Vodafone has beaten the world's richest Indian Lakshmi Mittal by virtue of his stake in world's biggest steel empire, in terms of annual remuneration as a CEO of Vodafone, the world's biggest telecom company by revenue.

Sarin received more than $33 million (about 16.9 million pounds) as salary and other benefits in the form of cash, stocks and options in the financial year ended March 31, 2007 from Vodafone.

Sarin got a base salary of $2.5 million (1.27 million pounds), while his total cash remuneration including incentives and other benefits stood at $6.4 million (3.24 million pounds), the company said in its annual report. It is also the largest ever annual cash remuneration received by Sarin as Vodafone CEO, exceeding his 3.196 million pound package in the year ended March 31, 2004.

L N Mittal last year as CEO of Mittal Steel, earned a base salary of $2.005 million, while total cash package including performance related payment stood at $3.68 million.

Sarin was also granted shares worth $7 million (3.5 million pounds) under the company's short-term and long-term incentive plans, in addition to grant of stock options worth about $20 million (10 million pounds).

The total share options held by Sarin at the end of last fiscal were valued at about $70 million. Besides, he has accumulated shares worth about $22 million, which have been given to him under various incentive plans.

In comparison, Mittal was awarded options worth just $1.8 million as the chairman and CEO of Mittal Steel, taking his total holding of options to about $8 million at the end of 2006.
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