Carphone managers to share £10m

Carphone Warehouse store and sales managers will share a£10 million pre-tax windfall this week, as part of the company's Retail Managers Share Option Scheme.

In 2004, a total of 350 managers were allocated 10,000 shares and the top 25 per cent received an additional 50 per cent each year. At£3 a share, the managers can now claim their stake of£10 million.

Carphone Warehouse UK chief executive Andrew Harrison said: 'This impressive payout is due to the fantastic hard work and commitment of our sales managers, who continue to drive our business forward, ultimately reflecting in our share price and their reward.'

Separately, the retailer was yesterday fined£35,000 by telecoms regulator Ofcom for 'causing annoyance' to consumers by making silent calls.

Such calls occur when automated systems used by call centres generate more calls than the centre's staff can manage. The automated system abandons the call if no agent is available, leaving a silent line for the person on the receiving end.

Carphone Warehouse was one of four firms to be punished, along with Space Kitchens which was fined£45,000, Bracken Bay Kitchens which was fined£40,000 and Toucan Residential which was fined£32,000.