New BT CEO Philip Jansen to join company on 1st January 2019
Philip Jansen is to be the CEO of BT Group and will start on the first day of 2019 with an overlap of a month with the out going Chief Executive Gavin Patterson to give time for the reins to be handed over smoothly.
Mr Jansen is arriving to BT Group from Worldpay where he has been Chief Executive since 2013 and BT is not his first venture into the telecoms arena, since back in 1999 he was Group Marketing Director at Telewest Communications.
I’m honoured to be appointed as the next Chief Executive of BT Group. BT is 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. 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.Philip Jansen
The challenge for new CEO is to turn around the long term trend in the BT Group share price which had a period of steady climb from 2009 to 2015 but since then has followed a downward trend. It is possible that once the Openreach Fibre First plans start to deliver full fibre in much higher volumes that the share price may pick up, a lot hinges on what the results for areas like the consumer division show in terms of the products people are buying - and this extends to others like CityFibre i.e. if not enough of the public buy into the full fibre dream investors may cut short funds to support longer term investment. Phrasing that another way we can all get excited by announcements of 5 million and 10 million premises of FTTP but until it is built and people are ordering it there is always a risk it might not happen.
There are also around 770,000 premises that are becoming increasing desperate for a superfast broadband service and addressing those to reduce the moans and groans about BT may help to reduce the resentment people seem to feel for the group. This resentment is often expressed in phrases such as 'they've taken all this money from the Government but they've done nothing for me' and 'why waste all that money on the useless football spectacle'.
One area where we are seeing confusion amongst the press and public that needs addressing is that after the BDUK projects many seem to be assuming that the Fibre First roll-out is also being co-funded by the Government.