Cable and Wireless Communications : CWC appoints new Chief Financial Officer

9 June 2014

CWC appoints new Chief Financial Officer

Cable & Wireless Communications Plc ("CWC") is pleased to announce the appointment of Perley McBride as Chief Financial Officer (CFO). Mr McBride will join the Company on 23 June 2014 and will be appointed to the Board on 26 June. He will report directly to Phil Bentley, Group Chief Executive.

Mr McBride has extensive experience in the US telecom and technology sector. Until recently he was Chief Financial Officer of Leap Wireless International, the Nasdaq-listed low cost US mobile telecoms operator which has been acquired by AT&T. Prior to that he led the finance and strategy functions at The Weather Company, owner and operator of The Weather Channel and earlier in his career he held senior finance positions at Frontier Communications, a leading fixed line telecom operator in the US and, prior to that, with Sprint Corporation.

As CFO, Mr McBride will join the CWC Board of Directors, and lead the Group finance, audit, corporate finance, tax, treasury and investor relations teams.

Phil Bentley, Chief Executive of CWC, commented:

"I'm delighted Perley is joining CWC. We have set out our new strategy to return this business to growth, and Perley's knowledge and experience of both fixed and mobile operations will be crucial in delivering on this commitment. He has strong relationships with US investors and banks and a track record of improving operating efficiency. He completes a strong team that will take CWC forward."

Perley McBride, incoming Chief Financial Officer, commented:

"CWC is entering a new phase, with a new operating hub in Miami, a major investment plan and clear strategy to deliver growth. It has a strong financial position and excellent opportunities in several emerging and underpenetrated markets. I'm delighted to be joining the business at this time, and look forward to working with Phil and the team."

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Notes:

Perley McBride biography

R. Perley McBride served as Chief Financial Officer at Leap Wireless International (which operated the Cricket Communications mobile brand) from December 2012 through to May 2014. He was part of the Executive team that led the business through its acquisition by AT&T Inc., completed in March 2014. Prior to Leap Wireless, he served as Executive Vice President of Finance at the Weather Company between 2010-2012. He served in several senior financial management roles at Frontier Communications (formerly Citizen's Communications) between 1999-2010, and also between 1994-1997. He also worked in the finance department at Sprint Corporation early in his career. Perley holds a Bachelor of Science degree from Mount Allison University in Canada and has an MBA from the University of Houston.

Remuneration

Perley McBride will receive an annual salary of US$600,000 and have an annual bonus opportunity of 1.5 times that salary, dependent on his achieving a number of financial and personal performance targets defined annually by the Board's Remuneration Committee. He will also be granted annual long-term incentive awards of two times his base salary with the award for 2014/15 being made at the earliest opportunity after joining, and will be required to accumulate a shareholding of not less than three times his salary which can be satisfied by the retention of any vested awards in the Company.

About Cable & Wireless Communications

Cable & Wireless Communications is a full-service communications business. We operate leading communications businesses offering mobile, broadband and domestic and international fixed line services in most of our markets as well as pay TV, data centre and hosting, carrier and managed service solutions. Our operations are focused on providing our customers - consumers, businesses, governments - with world-class service. We are the market leader in most products we offer and territories we serve. For more information visit www.cwc.com.

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