Pluthero pockets hefty packet as CWW board forgoes bonuses

NONE of Cable & Wireless Worldwide’s directors received bonuses in 2011/12, the year in which the telco’s value dropped by almost a third.

But John Pluthero, the former CWW boss under whose management the company slipped to a staggering £443m first half loss, pocketed £790,938, including a £656,750 salary and £134,188 in lieu of pension provision.

Pluthero was chief executive from June to December 2011, but remained an employee of CWW until the end of March.

Current chief executive Gavin Darby, who joined CWW in November and under whose leadership the company has secured a £1bn takeover offer from Vodafone, took home £266,000.

As chairman John Barton summarised in the annual report published yesterday: “This has been an extraordinary year of change and challenge for CWW.”