BT Regulatory News (BT.A)

31 July 2023

BT Group announces the appointment of Allison Kirkby as Chief Executive

BT Group plc ("BT Group") today announces the appointment of Allison Kirkby as Chief Executive. She will take over from Philip Jansen as Chief Executive around the end of January 2024 at the latest.

Allison has been President & CEO of Telia Company since early 2020. Telia, headquartered in Sweden, is the market leading digital communications and telecommunications provider to 25 million customers across the Nordic and Baltic region. She moved into the TMT sector in 2010, initially joining Virgin Media, and was most recently President & CEO of TDC (2018-2020), the largest telecommunications company in Denmark, and President & CEO of Tele2 AB (2015-2018) the largest challenger telecommunications company in Sweden and the Baltics.

Earlier in her career she held a number of financial and operational roles at Procter & Gamble (1990-2010) and qualified as a Chartered Management Accountant in 1990 whilst at Guinness plc.  

Allison has been a Non-Executive Director at BT Group since 2019 and is also a Non-Executive Director and member of the Audit Committee of Brookfield Asset Management Limited.

Adam Crozier, BT Group Chairman said: "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."

Allison Kirkby said: "I'm incredibly honoured to have been appointed as the next Chief Executive of BT Group. BT is such an important company for the UK, and our many customers both in the UK and internationally and is uniquely placed to help everyone benefit from the rapid advances in digitalisation. Our products and services have never been more important to how our customers live and work, and thanks to the significant investment BT is putting into digital infrastructure and in the modernisation of its services, I see us playing an even more important role going forward. Having been a member of the BT Group Board for the past four years, I'm fully supportive of our strategy and am excited about leading it into its next phase of development, as we grow to support customers, shareholders and the UK economy."

Philip Jansen will continue to serve as Chief Executive until the end of January 2024 at the latest. When Philip steps down, he will hand over to Allison. He will be available to support the handover until the end of March 2024, at which point he intends to retire from executive life. A further announcement will follow to confirm Allison's start date and the handover date. 

In respect of the transition period, Adam Crozier said: "Philip continues to lead the business very effectively as can be seen in the good progress shown at our most recent financial results. Given Allison is already on the Board, we are confident we will have an orderly leadership transition and handover of responsibilities."

Remuneration

Allison will be paid in accordance with the Directors' Remuneration Policy approved by shareholders on 13 July 2023 and in line with the current Chief Executive. Her remuneration will therefore consist of:

A salary of £1,100,000 per annum.

A cash allowance in lieu of pension of 10% of salary and other benefits in line with our Remuneration Policy.

An on target annual bonus of 120% of salary (with a maximum of 200%) subject to performance. Half of the annual bonus paid will be deferred into BT Group shares for a further three years with no additional performance conditions.

A long-term Restricted Share Plan ("RSP") award of 200% of salary, which vests in three equal tranches three, four and five years after grant. She is required to hold all vested shares until five years after grant. Her first pro rata RSP award will be granted soon after becoming Chief Executive.

Allison will be required to build a shareholding of 500% of salary within five years.

- Ends -

Notes to Editors

Allison Kirkby biography

Allison has been President & CEO of Telia Company since early 2020. Telia, headquartered in Sweden, is the market leading digital communications and telecommunications provider to 25 million customers across the Nordic and Baltic region.

She moved into the TMT sector in 2010, initially joining Virgin Media, and was most recently President & CEO of TDC (2018-2020), the largest telecommunications company in Denmark, and President & CEO of Tele2 AB (2015-2018) the largest challenger telecommunications company in Sweden and the Baltics.

Earlier in her career she held a number of financial and operational roles at Procter & Gamble (1990-2010) and qualified as a Chartered Management Accountant in 1990 whilst at Guinness plc.

Allison is also currently a Non-Executive Director and member of the Audit Committee of Brookfield Asset Management Limited.

Philip Jansen remuneration

When he steps down as Chief Executive, Philip's leaver payment will be in line with the Directors' Remuneration Policy as approved by shareholders at this year's AGM. The Company will publish further details in due course on its website, www.bt.com/about

Enquiries

About BT Group

BT Group is the UK's leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services. We also provide managed telecommunications, security and network and IT infrastructure services to customers across 180 countries.

BT Group consists of three customer-facing units: Business covers companies and public services in the UK and internationally; Consumer serves individuals and families in the UK; Openreach is an independently governed, wholly owned subsidiary wholesaling fixed access infrastructure services to its customers - over 650 communications providers across the UK.

British Telecommunications plc is a wholly owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.

For more information, visit www.bt.com/about