Telecoms group attacked over bosses' bonuses

Telecoms group Cable & Wireless was today accused of introducing “fanciful, private equity-style” bonus rewards for its senior executives in a shareholder showdown over pay.

The firm faced a stinging attack from investors left angry by proposals to award bosses potentially limitless share bonuses for performance-related targets, and to give its chairman, Richard Lapthorne, 5.5 million shares through a three-year incentive scheme.