BT set to announce that it is kicking off a formal search process to replace chief executive Philip Jansen
Hanging up: Philip Jansen is thought to be planning to step aside next year
BT could announce as soon as today that it is kicking off a formal search process to replace chief executive Philip Jansen.
It comes after City sources told the Mail on Sunday that Jansen was ‘desperate to leave’ and drawing up plans to step down.
The 56-year-old is thought to be planning to step aside next year.
His departure will mark another new chapter after a turbulent recent period for the FTSE 100 company, which is valued at £12billion.
And the expected announcement from BT comes ahead of its annual general meeting this week, when the chief executive’s £3.1m pay packet is expected to come under scrutiny.
Jansen has led BT since 2019 and is currently spearheading its biggest ever shake-up, which will see up to 55,000 jobs cut by the end of the decade in an effort to reduce costs.
