BusinessCompany NewsBT to lose FD by year-end

BT to lose FD by year-end

BT is to lose a third top executive at the end of the year, with its highly rated finance director Philip Hampton set to quit.

Hampton has reportedly informed BT that he has no wish to stay beyond the end of his two-year contract, which expires next year.

According to The Independent he will remain until the end of his contract. He has already ruled himself out as a candidate for the chief executive’s job, which becomes vacant when Sir Peter Bonfield leaves in January.

Another internal candidate, Pierre Danon, head of BT Retail, has also ruled himself out, according to weekend reports.

Hampton joined BT from British Gas, after guiding the double demerger of the group – first into Centrica and British Gas, and then into British Gas Group and Lattice.

Last month the telco announced chief executive Sir Peter Bonfield would step down from the position in January, a year early, with a golden handshake of Pounds 1.5m. He follows chairman Sir Iain Vallance, who resigned in April.

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BT’s Bonfield quits early

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