We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Cable & Wireless CEO quits after third profit warning

BULLETIN: New CEO promises better focus on hosting and cloud computing

Cable & Wireless Worldwide chief executive Jim Marsh has resigned, following the telecoms and networking company's third profit warning in less than a year.

He will be replaced immediately by the company's chairman, John Pluthero, who had previously also been a chief executive there.

However, the company has been heavily criticised by investors over executive remuneration, including for Pluthero, who will receive a £675,000 salary.

"Clearly it has been a very difficult 12 months and it is now important that we take the necessary steps to ensure the future growth of our business," said Pluthero.

Pluthero promised to radically improve the company's fortunes in several areas of techonlogy.

"I'll be looking to take a more radical approach to building on our hosting, cloud and data services business whilst becoming more competitive and efficient in the mature product areas. It has been easy to lose sight of what this business could be; it is my intention to reassert and realise that future."

IDG UK Sites

What to expect from Google I/O 2015 | Google I/O live video stream | Google I/O live blog |...

IDG UK Sites

Why Intel’s vision of the future is a future I want to live in

IDG UK Sites

Ben & Holly's Game of Thrones titles spoof is delightfully silly

IDG UK Sites

Jony Ive 'semi-retired' into new role: kicked upstairs as Chief Design Officer