Blueprint
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
Date of
Announcement: 25 October
2018
BT Group plc
(Translation
of registrant's name into English)
BT
Group plc
81 Newgate
Street
London
EC1A 7AJ
England
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F..X...
Form 40-F
Indicate
by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes
No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________
25 October, 2018
BT ANNOUNCES PHILIP JANSEN AS CHIEF EXECUTIVE
BT Group today announces the appointment of Philip Jansen as Chief
Executive. He will join the Company and be appointed to the Board
as an Executive Director on 1 January 2019 and following a handover
period will take over from Gavin Patterson as Chief Executive on 1
February 2019.
Philip joins from Worldpay, the global payments services group,
where he will be stepping down as Co-Chief Executive at the end of
the year. Philip has been Chief Executive of Worldpay since 2013,
leading it through its flotation in 2015, until its combination
with Vantiv in 2018 to create a global leader in eCommerce. He has
previously been CEO and then Chairman of Brakes Group and has held
a variety of senior roles in Sodexo Group, latterly as Chief
Operating Officer and CEO, Europe, South Africa and India. Earlier
in his career Philip was COO of MyTravel PLC and Managing Director
of Telewest Communications PLC's Consumer Division. He started his
career with Procter and Gamble.
Jan du Plessis, Chairman of BT Group said: "The Board is delighted
to have appointed Philip as our new Chief Executive. He is a proven
leader with outstanding experience in managing large complex
businesses. Philip's strong leadership has inspired his teams,
successfully transformed businesses across multiple industries and
created significant value for shareholders. His most recent success
at Worldpay, a technology-led business, means he is well suited to
build on the solid foundations that are in place at BT. I look
forward to working with him to position BT at the heart of the UK's
digital economy."
Philip Jansen said: "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."
Gavin Patterson will continue to serve as Chief Executive until 31
January 2019.
In respect of the transition period, Jan du Plessis said: "I'd like
to thank Gavin for his continued leadership of the business and
express my gratitude for his commitment and the good progress made
over the last few months. To ensure an orderly leadership
transition and handover, Gavin and Philip will work together during
January, with Gavin presenting our Q3 results on 31 January, before
handing over to Philip on 1 February."
Remuneration
Philip Jansen will be paid in accordance with the Directors'
Remuneration Policy approved by shareholders on 12 July 2017. His
remuneration as an Executive Director and Chief Executive of the
Company will consist of:
●
A
salary of £1,100,000 per annum. The salary will be fixed at
this level for five years.
●
A
cash allowance in lieu of pension of 15% of salary and other
benefits in line with our Remuneration Policy.
●
An
annual bonus of up to 240% of salary subject to performance. One
third of the annual bonus paid will be deferred into BT shares for
a further three years with no additional performance conditions.
His annual bonus for the 2018/19 financial year will be reduced to
reflect him joining part way through the year.
●
A
long-term Incentive Share Plan (ISP) award of 400% of salary, which
vests after three years subject to performance. He is required to
hold any vested shares for a further two years. His first ISP award
will be granted soon after joining but will be reduced to 300% of
salary to reflect joining part way through the three-year
performance period.
●
A
buy-out to compensate him for the loss in shares that will be
forfeited on leaving Worldpay to join BT. In accordance with our
approved policy, the buy-out will mirror the value and terms of the
award forfeited. He will be granted an award of 370,798 shares in
BT, which have a face value of £895,848 based on the closing
share price on 17 October 2018. The shares will be granted as soon
as practicable after joining, subject to any closed period dealing
restrictions. The shares will vest on 20 March 2020 subject to
continued employment and will only vest to the extent that the
forfeited award meets the original performance targets set by
Worldpay. He has agreed to hold any vested shares for a further one
year until 20 March 2021.
In addition, Philip has committed to invest £2m in BT shares
within 30 days of this announcement subject to any closed period
dealing restrictions. This combined with the conditional
buy-out will take Philip significantly towards the
shareholding of 300% of salary which the Chief Executive is
required to build over a reasonable timeframe.
- Ends -
Notes to Editors
Philip Jansen biography
Philip Jansen, 51, was appointed CEO of Worldpay in 2013,
leading the business through the UK's largest ever financial
technology IPO. During his tenure they launched new products and
innovative propositions catering to large corporate and SME
customer groups. During that time, some of the world's largest
global brands and retailers became Worldpay's largest customers. He
also led an overhaul of its technology infrastructure and invested
heavily in developing Worldpay's capabilities in payment
acceptance, cyber security, fraud and data
analytics.
In 2018 Worldpay combined with Vantiv to create Worldpay, Inc.
creating a global leader in eCommerce with a current enterprise
value of approximately £28 billion. Since the acquisition,
Philip has served as Co-CEO, working to implement the plan to
integrate the two businesses.
From 2010 to 2013, Philip served as CEO of Brakes Group, which
supplies food, drink and other products to the catering industry in
Europe. He remained on the Board of Brakes, as Chairman, until
2015.
Prior to this, Philip spent six years with Sodexo, joining in 2004
to run the UK & Ireland business. In 2007, he was promoted to
run the core European operation and was responsible for c.45% of
Group revenues and 135,000 employees.
He served as COO of MyTravel Group from 2002 to 2004, a worldwide
travel and holiday provider, developing and executing a turnaround
plan that returned the business to
profitability.
He joined Telewest Communications in 1999 as Group Marketing
Director, and was appointed Managing Director, Consumer Division in
2000, where he was responsible for leading a business which
consisted of five autonomous, regional companies.
He began his career with Procter & Gamble in 1988, where he
held a series of sales and marketing roles across the UK and
Europe.
Philip served as a Non-Executive Director on the Board of Travis
Perkins from 2009 to 2013.
Enquiries
Press office:
|
|
Tom
Engel
|
Tel:
020 7356 5369
|
|
|
Investor relations:
|
|
Mark
Lidiard
|
Tel:
020 7356 4909
|
We are scheduled to announce the second quarter and half year
results for 2018/19 on 1 November 2018.
About BT
BT's purpose is to use the power of communications to make a better
world. It is one of the world's leading providers of communications
services and solutions, serving customers in 180 countries. Its
principal activities include the provision of networked IT services
globally; local, national and international telecommunications
services to its customers for use at home, at work and on the move;
broadband, TV and internet products and services; and converged
fixed-mobile products and services. BT consists of four
customer-facing units: Consumer, Enterprise, Global Services and
Openreach.
For the year ended 31 March 2018, BT Group's reported revenue was
£23,723m with reported profit before taxation of
£2,616m.
British Telecommunications plc (BT) 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 stock exchanges in London
and New York.
For more information, visit www.btplc.com
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
BT Group plc
(Registrant)
By: /s/
Dan Fitz, Company Secretary
--------------------
Dan
Fitz, Company Secretary.
Date
25 October 2018