Game of phones

9 March 2021 By Ed Cropley Follow @edwardcropley

The UK telecom operator is seeking a replacement for Chairman Jan du Plessis, who stepped down under pressure from CEO Philip Jansen, Sky News reported. The fracas comes at a critical time for BT. Investors, directors and Jansen himself would benefit by recruiting a heavy hitter.

This content is for Subscribers only

Context News

BT on March 6 denied any “misalignment” between its board and management following a Sky News report that Chief Executive Philip Jansen had threated to resign unless the company replaced Chairman Jan du Plessis.

The UK telecommunications operator said on March 1 du Plessis planned to retire once a replacement had been found. “I know the time is now right for me to step down and focus on other interests,” he said in a statement that provided no further details.

Sky News reported, citing anonymous sources, that Jansen had become frustrated with the pace of decision-making at the former state monopoly and was prepared to resign unless du Plessis stepped down. Jansen and du Plessis have not commented.

BT shares closed up 1.6% at 126 pence on March 1, the day du Plessis’ retirement was announced. The stock was up 0.3% at 138 pence by 1330 GMT on March 9.

Context News

BT shares closed up 1.6% at 126 pence on March 1, the day du Plessis’ retirement was announced. The stock was up 0.3% at 138 pence by 1330 GMT on March 9.

Email a friend

Please complete the form below.

Required fields *