13th Nov 2007 07:02
Cable & Wireless PLC13 November 2007 13 November 2007 Cable & Wireless Management Changes Cable and Wireless plc ("Cable & Wireless"), one of the world's leadingcommunications companies, today announces changes to the management of itsInternational business in preparation for driving the next phase of its valuecreation. The key elements of the changes are: - Harris Jones to step down as Chief Executive of International and asa Director of Cable and Wireless plc from today, and leave towards the end of2007 once handover is complete. A search to be initiated to find a new ChiefExecutive for International; - John Pluthero to become Executive Chairman of International withimmediate effect, while continuing his similar role for Europe, Asia & US; - Lord Robertson of Port Ellen to act as Senior International Adviserto Cable & Wireless and to step down as Non-Executive Chairman of International;and - All other aspects of the Group operating structure to remain thesame, with Tony Rice continuing as Joint Managing Director responsible forCentral Activities and Finance Director. Commenting on the announcement, Richard Lapthorne, Chairman of Cable andWireless plc said: "On behalf of the Board, we are very grateful for the strong contribution thatHarris has made to the business. Since he joined in November 2004, Harris hassuccessfully rebalanced International towards the growth areas of mobile andbroadband, doubling mobile and tripling broadband customer numbers. At the sametime, the financial performance of International has improved and Internationalshareholder value has increased by over £1 billion. "We are now at the stage where we need to accelerate the transformation ofservice and brand reputation, fuelling further growth in the value ofInternational. John Pluthero has an outstanding track record in this area andthe capacity for the role, with the turnaround of Europe, Asia & US now out ofthe recovery phase, as evidenced by the strong interim results reportedseparately today and by having installed a strong management team, led byEurope, Asia & US Chief Executive Jim Marsh. "I am delighted that John has agreed to chair each of the two operatingbusinesses and drive the next stage of our value plan within the existingorganisation structure that has served shareholders so well since it wasintroduced in April 2006, with an increase of nearly £2 billion in marketcapitalisation and a total shareholder return of 75%." About Cable & Wireless Cable & Wireless is one of the world's leading international communicationscompanies. It operates through two standalone business units - Europe, Asia & USand International. The Europe, Asia & US business unit (formerly known as the "UK" business)provides enterprise and carrier solutions to the largest users of telecomsservices across the UK, US, continental Europe and Asia, and wholesale broadbandservices in the UK. With experience of delivering connectivity to 153 countries- and an intention to be the first customer-defined communications servicesbusiness - the focus is on delivering customers a service experience that issecond to none. The International business unit operates integrated telecommunications companiesin 33 countries offering mobile, broadband, domestic and international fixedline services to residential and business customers, with principal operationsin the Caribbean, Panama, Macau, Monaco and the Channel Islands. For more information about Cable & Wireless, go to Contacts GROUPClare Waters Group Director of External Affairs clare.waters@cw.com +44 (0)20 7315 4088Ashley Rayfield Director, Investor Relations ashley.rayfield@cw.com +44 (0)20 7315 4460Mat Sheppard Manager, Investor Relations matthew.sheppard@cw.com +44 (0)20 7315 6225FINSBURYRollo Head rollo.head@finsbury.com +44 (0)20 7251 3801Don Hunter don.hunter@finsbury.com +44 (0)20 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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