BT Group CEO, Philip Jansen, has informed the company's board of directors that he intends to step down from his role, which has sparked the commencement of a formal succession process.
Adam Crozier, BT Group chairman, said the board had been prepared to replace Jansen, with appropriate candidates already being considered. Crozier expects that BT will be able to announce a new CEO later in the UK’s summer.
Sky News reports that city sources told them that an announcement could be made as soon as BT’s annual general meeting (AGM), which is scheduled for this Thursday.
The board have certainly had time to consider their options, with Capacity first reporting a successor to Janson was being considered in March 2023. Executive search firm, Spencer Stuart, is reportedly leading BT’s efforts to find a new CEO.
Marc Allera, leader of BT’s consumer facing business is being touted as a potential frontrunner internally, while Allison Kirkby, a non-executive director on BT’s board and CEO of Swedish Telia Group could also be in with a shot.
Both Crozier and Jansen insisted it will be business as usual until a new CEO is appointed to replace Jansen, with BT continuing to focus on deploying Fibre to the home, increasing 5G service coverage and improving customer service.
“Philip has done an excellent job in his time at BT and the board is fully supportive of our long-term strategy which he and his team are pursuing. Whilst we are still in the early years of that transformation, we are on track to deliver.” Crozier added.
“[Jansen] has endured a rollercoaster ride at BT. He presided over the operator’s impressive response to the pandemic; embarked on a massive cost-saving drive; oversaw a major acceleration in the deployment of full fibre; witnessed Patrick Drahi take a near-25% stake in the company; and watched thousands of staff strike over pay,” Kester Mann, director, consumer, and connectivity at CCS Insight, told Capacity.
Jansen’s tenure has not been with out controversy as well, with BT’s share price almost halving since he took charge in 2019. Recent comments that the expansion of fibre alt-nets would “end in tears” also raised the ire of Ofcom, who investigated BT’s wholesale pricing follow the comments. Jansen claims the comments were taken out of context.
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