“Rumours of Ben’s departure from BT have circulating for some time, although a recent article in the Financial Times seemed to scotch this. Our policy is to deal in facts and not comment on speculation, so when asked about this we have declined to comment. But now the rumours have been substantiated, we are free to do so.”
“Our views on Ben’s achievements are documented. In December 2007 he was awarded an honourary knighthood (see EuroView Daily, Ben Verwaayen knighted for services to the communications industry, 19th December 2008). In this piece we noted his impressive achievements – sorting out the mess he inherited when he joined BT in 2002; personally initiating a constructive dialogue and rapprochement between BT and Ofcom; and championing the climate change agenda across UK industry to name but three. His legacy is a company that is in good financial health, well managed, and one that embraces change.”
“Ian Livingston has long been the obvious internal candidate to replace Ben. Along with Ben and ex-Chairman Sir Christopher Bland, as Group CFO he was part of the trio that lead BT back from the abyss. For the past three years he has headed up BT Retail (which covers UK consumers and businesses – excluding corporates) and managed a return to revenue growth and profitability for this division. In our view the future of BT is inextricably linked with the expanding on the successes to date of BT Retail. To do this necessitates an understanding of how to compete successfully in this congested market, and hence marketing skills. Ian brings this from his past at DSG, so is well placed to succeed in his new role. Interestingly Gavin Patterson in BT Retail has an fmcg background, so BT now has significant marketing presence at Board level.”
“We have said in the past that BT is a well managed company. Clearly this succession has been well planned. Last year Sir Christopher was succeeded as Chairman by Sir Mike Rake. This year Ben is to be seamlessly succeeded by Ian as Group CEO, and Ian by Gavin in BT Retail. Cast your mind back 6 years ago when Chairman Sir Iain Vallance, CEO Sir Peter Bonfield, and CFO Phillip Hampton all left within a short time of each other. As evidence of good management BT has clearly mastered succession planning.”
“As a final footnote, only last week I was asked if Ben was leaving BT. At the time I declined to do so. The reason for the enquiry is someone had spotted Ben’s house for sale in Country Life. Clearly there is a moral in there somewhere.”
For further information about this research, or to arrange an interview with Mike Cansfield, please contact Ovum Public Relations
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