Feeds

C&W bosses in line for massive payday

Fat cats to lap-up CWeam

Beginner's guide to SSL certificates

Bosses at Cable & Wireless (C&W) could be in line for fat cat salaries if a new bonus package worth up to £220m gets the go-ahead.

C&W wants to give big payouts to some 60 senior execs if they can turn the under-par telco around. The Sunday Times reports that chairman Richard Lapthorne has already written to shareholders seeking their approval for the scheme.

In his letter to investors, Lapthorne said the new incentive package would "provide a clearer link between the performance and reward for the executive".

If C&W hits its targets, UK boss John Pluthero could net £22m over the next four years while other senior execs could also be in line for big multi-million payouts.

In return, one of the goals execs will need to hit is to ensure that the share price more than doubles from its current level of around 100p.

News of the new pay packages comes just a few months after C&W announced plans to axe half its workforce - up to 3,500 jobs - and ditch thousands of customers.

In an email to employees just before the cuts were announced, Pluthero told staff that the business was in "bad shape": "Congratulations, we work for an underperforming business in a crappy industry and it's going to be hell for the next 12 months."

If employees aren't up for the fight, he went on, then they may as well "step off the bus". "This is no longer a place for the timid," he said. ®

Secure remote control for conventional and virtual desktops

Whitepapers

Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.