BT initiates search for new boss to replace Philip Jansen
BT outlines succession plans while scouting potential replacements for boss Philip Jansen
BT outlines succession plans while scouting potential replacements for boss Philip Jansen.
Although Jansen has only served four years at the helm of Britain’s flagship telecoms company, an industry source told The Mail on Sunday that planning for his successor in the city is “an open secret”.
Executive headhunters endeavor to create lists of candidates prior to any official announcement.
Disgraced: Philip Jansen served just four years at the helm of Britain’s flagship telecoms company
There have already been “market searches” for executives interested in the top job, while calls for successors have been absent “for quite some time,” possibly months, said another source close to the matter.
Speculation of an exit for Jansen, 56, comes as the FTSE 100 company is accused of stifling competition in the UK broadband market, where it dominates. The former state monopoly owns Openreach, the UK’s largest fiber broadband network, with a key element of Jansen’s strategy being the rapid expansion of its fiber internet offering across the UK.
The phrase “like fury” has become a key part of its vocabulary, with a goal of connecting 25 million homes to fiber broadband by the end of 2026.
He has also launched a major cost-cutting offensive. In November, BT raised its savings target from £2.5bn to £3bn by the end of 2025 to counter rising inflation.
Analyst Paolo Pescatore said a prime candidate for Jansen could be Marc Allera, head of BT’s consumer arm, which includes mobile network EE. He added: “Jansen has helped navigate the group through a difficult time but it’s probably time to think about the next chapter for him and BT.”
The latest moves have also cast doubt on Jansen’s future at BT.
This month Ofcom delayed its decision to approve BT’s plan to reduce prices for internet providers to use its broadband network through an initiative called Equinox 2. The watchdog raised concerns after Jansen said BT’s network had become an “unstoppable machine” that would “end” in tears for rivals.
And under Jansen’s tenure, French telecoms billionaire Patrick Drahi built up an 18 per cent stake in BT through his group Altice.
BT declined to comment.
https://www.dailymail.co.uk/money/markets/article-11901699/BT-triggers-search-new-chief-replace-Philip-Jansen.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 BT initiates search for new boss to replace Philip Jansen