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Vodafone India and Idea Cellular’s merged entity may offer stock options to top executives. According to a report by the Economic Times, the stock options may include restrictive stock units and preferential shares besides regular employee stock options, even as both the companies have reportedly hired Aon, a global HR consulting company, to set the salary structures of all employees, including the top team.
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The senior management in Vodafone India already have stocks in the parent company. “They have to be offered shares in the merged company at an agreed conversion ratio,” a source told the publication.
Idea Cellular currently employs around 11,000 plus, while Vodafone India has around 10,000 people working. The merger with both the companies is most likely to be completed around March-April period and just requires approvals from Department of Telecommunications (DoT).
The report said that around 20-30% of a company workforce is made up of senior management, while most of the others make up the middle order followed by the junior segment.
“For junior and middle management, it will be fixed, and variable pay with retention offers thrown in for those in niche areas,” another source told the publication.
In a bid to integrate operations of Vodafone and Idea Cellular, both the companies recently formed a project management office as the nodal body spearheaded by former CEO of Vodafone Romania Ravinder Takkar. Both the companies have set up common teams that report to this project management office.
