Feeds

Cable & Wireless loses international boss

Boardroom coup?

SANS - Survey on application security programs

The international chief executive of Cable & Wireless, Harris Jones, is leaving the company.

In a note in its interim management report, C&W said Harris Jones is to step down from today and leave the business towards the end of 2007. "John Pluthero is to become Executive Chairman of International with immediate effect," it says, "while continuing a similar role for Europe, Asia and US."

Lord Robertson of Port Ellen steps down as non-executive chairman of International but stays on as an advisor.

Jones gets a £4.3m pay-off as his share of the "Long Term Incentive Plan" and, reportedly, £600,000 for a year's salary.

Pluthero gets 50 per cent of Jones's LTIP once that payment has been made.

C&W shareholders have previously complained at levels of executive pay but shares are broadly unchanged on the LSE.

The departure is a surprise, but Jones and Pluthero have not always seen eye to eye. Jones was made international CEO in January 2006 in partnership with Pluthero, who ran the UK business. But the UK business was then renamed Europe, Asia and US, while Jones refused to rename the international business.

C&W chairman Richard Lapthorne denied there had been any falling-out between the board and Jones. There's more from the Times and the Guardian.

The company also released interim figures for the six months ended 30 September 2007. C&W grew group EBITDA by 29 per cent to £284m, but total revenues were down to £1.56bn from 1.72bn for the six months ended 30 September 2006. Operating profit, excluding exceptionals, was £120m compared to £95m in 2006.

The full statement is available as a pdf here - the info on management changes is on page nine. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.