Carphone co-founder quits

David Ross, who co-founded The Carphone Warehouse, has resigned after admitting that he'd used his shares to guarantee personal loans. Although none of the loans are in default and Mr Ross doesn't currently plan to sell any of the shares, he has broken stock exchange rules by not admitting his actions. Mr Ross owns almost 20% of the company's shares. [Sources: Press release; Telegraph.co.uk; ManagementToday.co.uk]

Vodafone to buy own shares

Vodafone says it plans to buy £1 billion of its own shares after the company's share price dropped (by around 14%) yesterday. [Press release]

Carphone co-founder sells £32 million shares

Carphone Warehouse co-founder David Ross has sold 15 million company shares at £2.17 each. The shares have all been bought by the Carphone Warehouse Employee Share Ownership Trust. Mr Ross still owns around 19.5% of the company. [Press release]

Arun Sarin to leave Vodafone with £25 million

The Times says Vodafone CEO will leave Vodafone with around £25 million in shares and bonus payments. He has 28.5 million shares and share options worth around £12 million at current prices, although they can't be sold until 2009. He also has 14.5 million shares and share options, worth £10.1 million, that can be cashed in immediately if he wants. In addition, Mr Sarin will receive a bonus of more than one and a half times his £1.3 million salary. [Sources: The Times; Telegraph.co.uk]

Motorola does deal with investor Icahn

Motorola has reached an agreement with campaigning investor Carl Icahn that sees two of his suggested nominees appointed to Motorola's board of directors. In return, Mr Icahn will vote in favour of the company's other nominees. In addition, all current legal action between Motorola and Carl Icahn will be dismissed. Mr Icahn, who is said to be the 46th richest man in the world, owns around 6.4% of Motorola's shares. [Motorola press release]