BT Group Plc is searching for a new chief executive officer after Philip Jansen told the board he’d step down from his role at Britain’s former state telecom company in the next 12 months.
Chairman Adam Crozier said the board is considering “all appropriate candidates” and expects to be able to share an update over the summer.
Jansen, who took the CEO role in 2019, focused investment at the London-based phone company on rolling out fiber optic connections across the UK while streamlining the rest of the business, such as merging internal business-to-business units and putting sport broadcasting into a joint venture.
Read More: BT Plans to Cut Up to 55,000 Jobs Following Fiber Rollout
He recently announced the company would cut as many as 55,000 of its 135,000-strong headcount by the end of the decade.
Jansen’s successor will have to grapple with a share price that’s fallen by almost 50% since he took over, as well as a UK ban on key Chinese supplier Huawei Technologies Co., higher energy prices and finding a way to recoup the investment needed for fiber and 5G.
