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Posted on October 25, 2018 by staff

BT confirms new CEO after months of speculation

The boss of global payments services giant Worldplay has been confirmed as the new chief executive at BT Group.

Philip Jansen will step down as co-chief executive of Worldpay at the end of the year and will take over from Gavin Patterson as BT’s CEO on 1 February 2019.

His appointment follows months of speculation and media reports which suggested that Jansen was the preferred candidate to replace Patterson.

He hailed BT as “a special company with a wonderful history and a very exciting future”.

“It has built a leading position across fixed and mobile networks, creating an opportunity to deliver increasing benefits for our customers, the UK economy and our shareholders,” said Jansen.

“In a competitive market we will need to be absolutely focused on our customers’ needs and pursue the right technology investments to help grow the business. I’m excited to get to know all the people at BT and work together to take the business forward.”

Jansen has been chief executive of Worldpay since 2013, leading it through its flotation in 2015, until its combination with Vantiv in 2018.

He has previously been CEO and then chairman of Brakes Group and has held a variety of senior roles in Sodexo Group, latterly as chief operating officer and CEO, Europe, South Africa and India.

Jansen will be paid a fixed annual salary of £1.1 million, in addition to an annual bonus of up to 240 per cent of salary subject to performance and a cash allowance in lieu of pension of 15 per cent of salary.

His remuneration will also consist of a long-term incentive share plan and a buy-out to compensate him for the loss in shares that will be forfeited on leaving Worldpay to join BT.

BT Group chairman Jan Du Plessis described Jansen as “a proven leader” with outstanding experience in managing large complex businesses.

“Philip’s strong leadership has inspired his teams, successfully transformed businesses across multiple industries and created significant value for shareholders,” he added.

“His most recent success at Worldpay, a technology-led business, means he is well suited to build on the solid foundations that are in place at BT. I look forward to working with him to position BT at the heart of the UK’s digital economy.”

BT Group has also announced the appointment of former O2 UK chief executive Matthew Key as a non-executive director with immediate effect.

Prior to O2, Key was chairman and CEO of Telefónica Europe and Telefónica Digital and a member of Samsung Europe’s advisory board.