BT is preparing succession plans as it explores potential replacements for boss Philip Jansen
BT is preparing succession plans as it explores potential replacements for boss Philip Jansen.
Despite Jansen serving just four years at the top of the UK telecoms flagship company, an industry source told The Mail on Sunday that planning for his successor was “an open secret” in the City.
Executive headhunters scramble to create lists of candidates ahead of a formal announcement.
Out of favour: Philip Jansen has only spent four years at the top of the flagship British telecom company
There have already been “market searches” for executives interested in the top job, while pitches for successors have been “for quite some time,” possibly months, said another source close to the matter.
Speculation about 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 part of Jansen’s strategy being the rapid expansion of its fiber internet offering in the UK.
The phrase ‘build like fury’ has become an important part of his vocabulary, with a goal of connecting 25 million homes to fiber broadband by the end of 2026.
He has also embarked on a major austerity operation. In November, BT raised its savings target from £2.5bn to £3bn by the end of 2025 to combat rising inflation.
Analyst Paolo Pescatore said a prime candidate to replace Jansen could be Marc Allera, the head of BT’s consumer division, which also includes mobile network EE. He added: ‘Jansen has helped the group through a difficult period, but it’s probably time to think about the next chapter for him and BT.’
Recent moves have also cast doubt on Jansen’s future at BT.
This month, Ofcom delayed its decision to approve BT’s plan to cut prices for internet providers to use its broadband network through an initiative known as Equinox 2. The watchdog expressed concern after Jansen said the network of BT had become an ‘unstoppable machine’ that would ‘put an end to internet providers’. in tears’ for rivals.
And under Jansen’s tenure, French telecom billionaire Patrick Drahi has built up an 18 percent stake in BT through his group Altice.
BT declined to comment.