BT Chief Executive Philip Jansen will step down within the next year, having set plans in motion for Britain's biggest telecoms provider to cut jobs, become leaner and complete the roll-out of a national fibre network.
People walk past British Telecom headquarters in London, Britain, November 15, 2019. REUTERS/Simon DawsonJansen simplified former monopoly, retreated from sportsChief Executive Philip Jansen will step down within the next year, having set plans in motion for Britain's biggest telecoms provider to cut jobs, become leaner and complete the roll-out of a national fibre network.
Since early 2019, Jansen has steered BT through a crucial period in its 177-year-history, secured funding for a national fibre network for 25 million homes and businesses and handled the arrival of billionaire investor Patrick Drahi on the shareholder register., has pursued debt-fuelled deals to buy telecoms and cable TV assets in France, the United States, Portugal and Israel. He has publicly backed BT's strategy.
He also simplified the group, consolidated its enterprise business into one unit and cut the burden of expensive sports broadcasting rights by striking a deal with Discovery.. Since he took over the shares have nearly halved, and they have fallen by more than a third over the last 12 months, reflecting the impact of rising interest rates on its 18.9 billion pounds of debt.
"We're investing heavily in both BT's and the UK's future," he said in a statement. "We're building like fury, have now passed over 11 million homes with fibre, have got 5G service to 68% of the country and our customer service is much improved."
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