Investors accuse C&W of 'unbridled greed'

Cable & Wireless was dealt a humiliating blow by shareholders yesterday when a quarter voted against remuneration plans and accused it of "unbridled greed".

More than 25 per cent of investor votes were made against controversial changes to the company's executive pay scheme, but the move still passed with a majority vote. The group unveiled plans in May to extend its bonus scheme by an extra year due to a delay in demerger plans.