SummaryCompanies BT boss who spearheaded fibre roll-out to step downJansen simplified former monopoly, retreated from sportsShares nearly halved under his tenureLONDON, July 10 (Reuters) - BT (BT.L) Chief Executive Philip Jansen will step down within the next year, having set plans in motion for Britain's biggest telecoms provider to cut jobs, become leaner and complete the roll-out of a national fibre network.
Jansen had informed BT's board of directors that he plans to leave at "an appropriate moment" within the next 12 months, BT said on Monday.
Since early 2019, Jansen has steered BT through a crucial period in its 177-year-history, secured funding for a national fibre network for 25 million homes and businesses and handled the arrival of billionaire investor Patrick Drahi on the shareholder register.
"We suspect investors will find this transition a little premature given the fruits of BT's fibre investments have still yet to be proven out," analysts at J.P.Morgan wrote in a client note.
Analysts named BT's consumer brands boss Marc Allera and Allison Kirkby, a BT board member and chief executive of Sweden's Telia, as possible successors.
Persons:
Jansen, Philip Jansen, BT's, Patrick Drahi, J.P.Morgan, Adam Crozier, Marc Allera, Allison Kirkby, Sweden's, Sarah Young, Kate Holton, Sharon Singleton
Organizations:
BT, Britain's, Discovery, Deutsche Telekom, Ofcom, Thomson
Locations:
France, United States, Portugal, Israel