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BonusesLatest NewsPay & benefits

Former Phones4U boss John Caudwell gives away £3.5m to long-serving staff

by Georgina Fuller 28 Nov 2006
by Georgina Fuller 28 Nov 2006

The founder and former boss of the mobile phone empire the Caudwell Group has given away £3.5m in bonuses to 500 employees.


Billionaire John Caudwell said he wanted to reward his “loyal staff” after selling his company, which included the Phones4u chain, for £1.46bn in September.


Caudwell announced the bonuses at a farewell party at the company’s former headquarters in Stoke-on-Trent last Saturday.


He said: “I face the final curtain with some sadness. I am leaving behind a lot of winning people and lots of pride for what we have created. I really wanted to recognise and reward my loyal employees by showing you a token of my appreciation.”


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Each former employee was awarded with at least £5,000 for five years’ service with an additional £1,000 for each year of service after. Staff were handed their rewards in golden envelopes.


Caudwell is Britain’s 29th wealthiest person, according to this year’s Sunday Times Rich List.

Georgina Fuller

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