Standard Life votes against Sarin

As predicted, Standard Life Investments has voted against the re-election of Vodafone chief executive, Arun Sarin, at a shareholder meeting on Tuesday.

The company has a stake of about 1.7 per cent in Vodafone and joins Hermes Pensions Management and Morley Fund Management who have been widely reported as voting against Sarin’s reappointment at the company’s meeting today.

In a statement, Standard Life said: “We opposed the re-election of Arun Sarin and the Remuneration Report (at Vodafone’s AGM). This reflects the importance we attach to leadership at Vodafone and our concerns about Vodafone’s remuneration policies, which in our opinion provide significant rewards for achieving unchallenging performance conditions.”