Employee reward and benefits news
Cable and Wireless outlines share benefits plans
In an effort to retain its senior executives on the UK side of its business, Cable and Wireless (C&W) is proposing that they could stand to benefit from large share awards for exceptional performances, a new report has detailed.
Following the Tuesday release of documents running to over 700 pages about its demerger plans for March and effectively separating listings for its UK and international businesses, the Financial Times detected the change.
The news provider explained that the documents outlined proposed modifications to C&W's long-term incentive plan of employee benefits, which paid out a rather controversial £32 million to senior managers last year alone.
It is understood that share awards for "exceptional performance" could be dished out by the company.
The FT added that chief executive of C&W Worldwide Jim Marsh, finance director Tim Weller and chief operating officer Ivan Gunatilleke are set to benefit.
C&W is the leading provider of telecommunications to many former British colonies and is listed on the FTSE 100.
Posted by Michael Ewing
