Vodafone is proposing to pay company chairman Ian MacLaurin 125,000 pounds a year for a consultancy role following his departure from the company in July, a Dow Jones report, citing a local paper, said.
A report from The Observer said the proposal had sparked further anger among investors already worried about the poor performance of the group.
A spokesman for Vodafone later told Dow Jones that discussions with shareholders were private and details of the amount MacLaurin would be paid for his consultancy role would be in the company's annual report, which would be published in June.