BT appoints Worldpay’s Philip Jansen as new chief executive

BT has named Philip Jansen as its new chief executive as the telecoms group seeks to revive its fortunes.

He replaces Gavin Patterson, who is stepping down after the company said a change of leadership was needed.

BT has been criticised for not investing enough in its broadband network and faced a £500m accounting scandal in 2017.

Mr Jansen, co-head of US payment processing firm Worldpay, will be paid £1.2m and start the job in February.

On top of his £1.1m per year salary, there will be an annual bonus of up to 240% of salary subject to performance. He will also join a long term share incentive plan worth 400% of his salary.

Jan du Plessis, chairman of BT Group, called Mr Jansen 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.”