FT Alphaville " Pluthero and the art of altruism It always warms the heart to see a failed executive give something back. Not to shareholders, obviously. Shareholders are bitter types who won't invite you to champagne receptions in White Cube. Better, instead, to aim your largesse at people largely unaffected by your failure. To that end: John Pluthero, Chairman of Cable & Wireless Worldwide and Philanthropist/Co Founder of not-for-profit organisation Abstract Critical, is funding a major new national art prize for abstract art. The prize in question is £5,000 and, assuming Mr Pluthero draws on his £10.2m bonus for demerging C&W Worldwide, it will be available annually for the next 2,040 years. The Abstract Critical Newcomer Awards show, which runs at Kings Place Gallery from March 30, will include works such as All or Nothing by Iain Robertson and Phillip Allen's Plump Thinking and Grumbled Realities - Between the Soup and the Cheese Version. Our own effort below, titled A Demerger, Three Profit Warnings and 70 Per Cent Value Destruction, will not feature. C&W Worldwide is also a not-for-profit organisation. Related link: John Pluthero: my work here is done - FT Alphaville This entry was posted by Bryce Elder on Wednesday, March 14th, 2012 at 15:03 and is filed under People. Tagged with Cable & Wireless Worldwide, charity, John Pluthero.