BT CEO Philip Jansen is expected to step down in the next 12 months. He took over as CEO in February 2019 but has faced pressure from investors due to declining share price and financial performance. BT Chair Adam Crozier stated that Jansen achieved much during his tenure but it’s time for a new leadership team.
Jansen’s departure adds to BT’s current uncertainties. The company confronts challenges like rising competition from rivals such as Sky and Virgin Media, as well as the need to invest in infrastructure to meet growing service demands.
To reduce costs, BT plans to cut up to 12,000 jobs and is in the process of selling its non-core asset, BT Sport.
The search for Jansen’s successor will commence soon. Crozier emphasized the need for a transformational leader who can take BT to the next level.
Jansen’s departure is part of a series of high-profile CEO exits in recent months. Aviva CEO Amanda Blanc announced her departure after two years, and Centrica CEO Iain Conn plans to retire after six years.
These CEO departures raise concerns about British business leadership. Commentators argue that the UK is experiencing a leadership crisis and companies must improve talent attraction and retention.
