Outlook: Cable & Wireless
Tuesday 23 February 1999
IT IS not quite true to say that in the space of two years Graham Wallace has gone from running a Happy Eater on the A1 to commanding one of the biggest companies in the Footsie. But it is not that far from the mark. His meteoric rise from chief executive of Granada's restaurant division (that's, er, Little Chef) to chief executive of , shows that nice guys do not always come second.
Now that he has reached the top of the greasy telegraph pole, Mr Wallace seems intent on making his employers recognise the value of his abilities by sticking out for the kind of pay package enjoyed by his more carnivorous predecessor, Dick Brown
His track record at Communications entitles Mr Wallace to start with some credits in the bank. In his two years at the helm, its market capitalisation has more than doubled. Furthermore, however much he asks for, it will doubtless be a fraction of the sums the Americans interviewed for the job by the C&W chairman Sir Ralph Robins would have demanded. But as with any internal appointment, particularly one as big as this, there is always the nagging question of whether C&W has settled for second best. If the job is so good, why could Sir Ralph not appoint a successor from outside?
So Mr Wallace will have to deliver a lot. His motto for now is steady as she goes. But if he wants to achieve the same feat with the C&W share price as he did at CWC, can he resist the temptation of the mega-merger?
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 Muslim women's rights campaigner writes heartfelt letter to girls thinking of joining Isis
Ukraine crisis: Putin will cut gas to Europe unless Russia is paid by the end of the week
Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
Isis burns thousands of books and rare manuscripts from Mosul's libraries
Missing Mexico teachers: Protests organised by union quashed in violent police crackdown
Mohammed Emwazi: Nine things we now know about man named as Isis militant 'Jihadi John'
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
Ukraine crisis: 'One miscalculation, and Britain faces an existential threat to our whole being...'
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...