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I agree SoM - that Jensen’s won’t be retiring from Exec life. If anything - just taking a breather and relieved that he’s out before a takeover or whatever is brewing. I think you right - that Allison is a fall girl, and she won’t be in long esp. not for the full 5 years! The offer she has been given looks attractive but no way affordable to give her what she been offered as a package - unless the SP and investments are exponentially increased during her tenure!
Guess we’ll see and hope she is different and can cut the mustard better than the major male dominated CEO’s in the Corporate World that have had the reins to BT’s ship.
GLA.
Telia Company’s President and CEO, Allison Kirkby, has made a significant decision to step down from her current role to assume the position of Chief Executive at BT Group, the largest telecom group in the UK. Allison Kirkby will be taking over from the outgoing BT Group CEO, Philip Jansen.
Telia CEO Allison KirkbyThe announcement was made by Telia Company, and the Board of Directors has already received Allison Kirkby’s resignation. The company will promptly begin the process of searching for a new CEO. However, Allison Kirkby will continue to serve as President and CEO of Telia Company until January 31, 2024, at the latest.
Since taking over as President and CEO of Telia Company on May 4, 2020, Allison Kirkby has led the company through a transformative period, implementing a renewed strategy with a focus on the Nordics and Baltics, and successfully guiding the company towards growth across its footprint.
In a statement, Allison Kirkby expressed her reasons for the decision, stating, “After almost 10 years of living apart from my family, and the opportunity now offered to me in the UK, I have carefully considered and decided to leave Telia and take on a new challenge. In the meantime, I will continue in my role, driving our current agenda forward with full focus and commitment during the remainder of my tenure.”
BT Group confirmed Allison Kirkby’s appointment as Chief Executive, and she will assume the position around the end of January 2024, at the latest.
Allison Kirkby has an impressive track record in the telecommunications industry, having served as CEO of Telia Company from 2020 to 2023, President & CEO of TDC (2018-2020) in Denmark, and President & CEO of Tele2 AB (2015-2018) in Sweden and the Baltics. She has also been a Non-Executive Director at BT Group since 2019.
BT Group Chairman, Adam Crozier, expressed his enthusiasm for Allison Kirkby’s appointment, stating, “The Board is delighted to have appointed Allison as our new Chief Executive. She is a proven leader, with deep sector experience and a history of having transformed businesses. I look forward to supporting her as we drive our long-term strategy to transform BT Group, ensuring it delivers for all our stakeholders.”
In terms of remuneration, Allison Kirkby will receive an annual salary of £1,100,000 from BT Group. Additionally, she will be entitled to a cash allowance in lieu of a pension, amounting to 10 percent of her salary, and other benefits consistent with BT Group’s Remuneration Policy. The annual bonus is set at 120 percent of her salary, with a maximum potential of 200 percent based on performance. Half of the annual bonus will be deferred and invested in BT Group shares for an additional three years without any additional performance conditions.
Furthermore, Allison Kirkby will be granted a long-term Restricted Share Plan (RSP) award equivalent to 200 percent of her salary, vesting in three equal tranches over three, four, and five years from the date of grant. She will be required to retain all vested shares until five years after the grant. As part of her commitment to the company, Allison will also be expected to build a shareholding equivalent to 500 percent of her salary within five years.
Allison Kirkby’s appointment as the Chief Executive of BT Group comes with high expectations, and the telecommunications industry will be closely watching her leadership as she takes on this new challenge.
Britain's BT Group (BT.L) on Monday appointed Allison Kirkby, chief executive of Sweden's Telia (TELIA.ST), to replace Philip Jansen around the end of January 2024 at the latest.
Kirkby has been a non-executive director at BT since 2019.
Jansen said earlier this month that he would step down from Britain's biggest broadband and mobile company within the next year, having set plans in motion to cut jobs, become leaner and complete the roll-out of a national fibre network.
Excerpt: Reuters News
Lookslike a good set of results this morning.
Up 4% on Adjusted Revenue @ £5.2B & £2B for EBITDA with 44% of FTTP target reached with 32% of that is customer take up rate.
“Slowly slowly catchy the monkey”.
GLA & ATB
GLA
“ There seems little honour out there at the moment. Executives promoted above their skill level who believe their own hype”. - Couldn’t be more true at present time so it seems!
But at the same time, no one wants these positions because there’s so much work to be done at these corporations that the people who step in these positions are either too close to retirement or do their 3-5 year stunt and bugger off when what they were bought in to do - didnt happen or failed and they leave with a fat pay cheque and stocks (if any)…..just cant find the staff as the cliché goes!
Oh well hopefully onwards and upwards and Dame and Co. will be forgotten lol!
GLA!
Absolutely right Rocka999 well dissected - she knew the rules regarding confidentiality, and so knew exactly what she was doing and consequences. Most probably did it to on purpose to get out - as no other way to get out as she done her time in the industry lol!
Wise words Big Bang and concur! As am waiting for ‘actuals’ also.
I will continue to forward any email updates from Microsalt as I have been whenever I receive them.
GL & ATB.
The following is a Q2 2023 update from MicroSalt:
I wanted to reach out to thank all our valued stakeholders as we continue to grow and expand both the commercialization of MicroSalt as well as to educate the food community about MicroSalt which is ready for application across several market segments.
The Company continues its growth both in the US and globally as it brings its low sodium mission to both the B2C and B2B market segments. Some of our most notable developments are:
• Major US Food and Drug retailer has established 4 private label SKUs to roll out Q4 2023 in 800+ high volume stores. Likely to be followed-up in 2024 with a roll out to over 7,000+ locations.
• The launch of our retail saltshakers in the US has resulted in placements in hundreds of stores since late 2022. These placements include Hannaford Brothers, Brookshire Brothers, Pete’s FreshMarket, Heinen’s, Dicks Fresh Markets, Zerbo’s Market, Big Y, Fine Fare and several other retailers in the US.
• Secured placement of SaltMe crisps within the US retail business focusing on better for you consumer placements including H Mart, Kink Kullen (32 stores) and Dags/Gristeded (28 stores).
• E-commerce has begun with the shakers being added to our Amazon US site and pending launch on the Amazon UK site within the next couple of months.
• New outreach to the QSR/FSR market with sodium reduced burger buns a potentially significant new opportunity for both sodium reduction and the MicroSalt presence across multiple jurisdictions.
• The Company announced its affiliation with Chef Jack Stein as our Culinary brand ambassador in the UK. Jack has a strong following in the UK and will bring much appreciated support to culinary outreach efforts. This partnership is expected to have a significant impact including expanded exposure of MicroSalt products to the culinary audience of Chef Stein and providing culinary guidance and credibility for the use of MicroSalt in both every day and commercial food preparation.
• The Company’s parent company is actively engaged with its investment banker Zeus Capital towards its anticipated London Stock Exchange Listing.
• Expansion of staff to include a full-time sales associate and full-time supply chain associate to ensure timely execution of sales and supply chain opportunities.
Yeah I think it’s BS too - as he has undelivered on the master plan, but will be interesting to see who takes his spot (apparently Marc Allera is the front runner atm).
True that, but his loss is negligible to what he will get for his departure.
In summary, we can only see how this unfolds….and hope it’s for the best for all.
@Ianfm - I will have to dig it out, but a recent interview - stated that PJ was disappointed at investors lacked the long term strategy for BT to become profitable - and are only seeing the short term - which got his back up….perhaps that’s what has broke his back and feels his efforts are not appreciated on top of what the observation you made - ie. Pushed out / Fed up etc.
News not received well it seems but long term looks like VMU doing some cost saving, and will be interesting to see what next quarter performance report will make of the strategy.
P.S. Well done to those who held and broke even or made gains from the recovery.
GL & ATB.
British lender Virgin Money UK said on Thursday it will close 39 stores as the company continues to see a drop in footfall and transaction volumes.
"Access to a bank and cash is a fundamental need for all our local high streets," UK's labour union Unite said in a separate statement about the store closures.
Virgin Money UK said that some workers will be at risk of redundancy following the store closures. - Reuters News
The-Chuz - this standard with PrimaryBid - they changed the way they offer stakes on companies now - almost not worthwhile using PB for last minute buy-ins or they wont tell you how much you bought a stock for until the round ends - whereas before, they would tell you exactly what price you would be buying at (like they have for Argo).
GL if you buying via PB.