Following is the steps I used to solve installing VMware Tools on CentOS
1.In Sphere Client: Guest > Install/update VMware Tools
2. On the VM console in command line, being a server I do not have a GUI installed:
3. mkdir /cdrom, or any other mount point you like
4. mount the vitural cdrom from step 1; mount /dev/cdrom /cdrom
5. cd /tmp
6. tar -xvf /cdrom/VMwareTools (tab to auto-complete)
7. cd vmware (tab to auto-complete)
8. ./vmware-install.pl; accept defaults, you might have to install perl as well
9. umount /cdrom
10. In Vsphere Client: Guest > Install/upVMware Tools > OK
11. To confirm the install; in the client > VM Summary tab and look for OK next to VMWare Tools