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Business News

Plutheroe deal criticised by directors' chief

The head of the Institute of Directors has cited the pay deal of John Plutheroe at Cable & Wireless as an example of all that is wrong in British business.

Mr Plutheroe was paid £10.2m when C&W split in two, but the Worldwide business collapsed in value and was sold to Vodafone earlier this week.

"If a company is run into the ground by incentive systems which discourage investment and bring a historic British business like C&WW to its knees, we should say so," said Simon Walker, calling for better behaviour by corporate Britain.