BT set to reveal search for Philip Jansen’s successor
BT announces it is starting a formal search process to replace CEO Philip Jansen
Hang up: Philip Jansen would plan to leave next year
BT could announce today that it is starting a formal search process to replace chief executive Philip Jansen.
It comes after City sources told the Mail on Sunday Jansen was ‘desperate to leave’ and were preparing plans to step down.
The 56-year-old would plan to leave next year.
His departure marks a new chapter after a turbulent recent period for the FTSE 100 company, which is valued at £12bn.
And BT’s expected announcement comes ahead of its annual general meeting this week, when the CEO’s £3.1million salary package is expected to come under scrutiny.
Jansen has led BT since 2019 and is currently leading its biggest shakeup ever, with up to 55,000 jobs due to be cut by the end of the decade in a bid to cut costs.