BT Group travels a new finance chief to succeed the veteran executive who joined the telecommunications company FTSE-100 almost a decade ago.
Sky News learned that Simon Lowth, who joined the BG group in 2016, is preparing to resign over the next 12 months.
Industry sources have said that Alison Kirkby, who became BT Director of BT last year, had started to meet candidates to succeed Mr. Lowth.
An appointment could arrive later this year, they added.
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The identity of the contenders to replace Mr. Lowth was not clear on Monday.
Mr. Low’s retirement will be delivered with Deutsche Telekom and the Indian billionaire Sunil Bharti Mittal collectively holding more than a third of BT shares.
Their respective intentions towards their challenges can help shape the company’s medium -term future, Openreach – The arm of the BT infrastructure – accelerating its deployment of complete broadband through the United Kingdom.
BT said: “As part of its commercial activity as usual, the BT board of directors undertakes regular succession planning to ensure that it is preparing for the future.”
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The company refused to comment on the details of the process to identify Mr. Lowth’s successor.
On Monday morning, BT shares were negotiated at around 198.7p, which gave it a market value of around 20 billion pounds sterling.