Arun Sarin said that he would step down as chief executive of Vodafone, the world's biggest mobile-phone operator by sales. During his five years in the job, Sarin endured rocky relations with shareholders, some of whom wanted him to sell the company's 45 percent stake in America's Verizon Wireless. But he also made important investments in emerging markets.
Société Générale held its general meeting, at which shareholders vented their anger about a rogue-trading scandal that has rocked the French bank.
A proposal to split the jobs of chairman and chief executive at Exxon Mobil was defeated by shareholders. The resolution rose to prominence with the support of the Rockefeller family, descendants of the founder of Exxon's forerunner, Standard Oil.
American consumer confidence dropped to a 16-year low in May. Americans were not the only ones to register rising pessimism. High prices and worries about economic prospects also caused French consumer confidence to slide in May, to its lowest level since 1987.
Frederic Mishkin tendered his resignation from the Federal Reserve board of governors. A highly influential board member, Mishkin is returning to Columbia University.
Markets were rife with speculation that InBev, a brewer that includes Stella Artois and Becks among its brands, may launch a takeover for Anheuser-Busch, which produces the Budweiser range of beers.
Political economy Israel's prime minister, Ehud Olmert, came under pressure to resign after more revelations of payments made to him when he was mayor of Jerusalem (and a cabinet member) by an American businessman, Morris Talansky.
Iran's parliament elected Ali Larijani, a former nuclear negotiator, as its speaker. He is a critic and rival of President Mahmoud Ahmadinejad. But his first target was the International Atomic Energy Agency, which he lambasted for a new report that expressed concerns about Iran's nuclear program.
