Telecommunications giant BT Group has confirmed that its CFO, Simon Lowth, will retire from the business and be replaced by Virgin Media O2 CFO Patricia Cobian.
Cobian, who played a key role in the 2020 merger of Virgin Media and O2 and has served as CFO of Virgin Media O2 since its launch in June 2021, will join the company’s board and executive committee in the summer of 2026.
Lowth joined BT in 2016 after spending three years as CFO of BG Group – a position he had taken up after a six-year spell in the same role at pharmaceutical giant AstraZeneca.
He will retire following a managed handover, with BT announcing the date of Cobian’s appointment in due course.
Meanwhile, Cobian spent nearly five years as CFO of O2 UK from 2016-2021 and served on the supervisory board of Telefónica Deutschland from 2012 to 2020, where she led multiple M&A transactions and strategic partnerships.
Earlier in her career, she spent seven years at McKinsey & Company across London, New York and Madrid, focusing on technology, media and telecommunications as well as corporate finance.
She joined O2 in 2006, holding senior roles in European strategy, business development and as chief of staff, before being appointed strategy and transformation director and joining the O2 UK executive committee in 2014.
“I am thrilled that Patricia is going to be joining BT next year,” said Allison Kirkby, BT Group chief executive.
“Her leadership, deep industry experience and knowledge will be invaluable, as we continue our once-in-a-generation upgrade of the UK’s digital infrastructure and accelerate BT’s modernisation.
“As he prepares for retirement, I’d like to thank Simon for his outstanding contribution to BT over so many years – and on a more personal note, for his wise counsel and partnership to me.
“His leadership has played a major part in our strategy and transformation to date, as we become a better BT for our customers, our colleagues, the country and our owners.”
Cobian added: “I am excited to join BT at such a critical point in the company’s transformation.
“I look forward to working with Allison, Adam (Crozier, BT Group chairman) and the board to continue to drive growth and value for BT’s customers, shareholders and the UK.”