Cable and Wireless is preparing to announce a new long-term remuneration plan for its top managers, as the existing scheme is set to pay them £60m in cash.

The telecommunications company will use its full-year results on Thursday to outline the first pay-out under its controversial long-term incentive plan, to which some investors objected. About 50-60 managers led by John Pluthero, head of C&W’s UK business, are set to share £60m under the scheme, which is based on share price performance between March 2006 and March 2009.