The poor financial performance of the Commonwealth Development Corporation should lead to the docking of the bonus paid to the outgoing chief executive, the Conservatives have said.

Alan Gillespie resigned earlier this week from the organisation, now known as CDC Capital Partners, which has come under fire for encouraging investment in less traditional industries in the developing world.

"Clare Short says that he is eligible for a bonus. She should now reconsider this decision," said shadow international development secretary Caroline Spelman.

The company's revenue fell from £131.6 million in 2000 to £87.7 million at the end of last year.