BusinessBusiness RecoveryHampton to step down at BT in 2002

Hampton to step down at BT in 2002

Philip Hampton, BT's finance director, is to leave the company after his contract expires next year, it was announced today.

Announcing results for the second quarter, chairman Sir Christopher Bland said Hampton would be leaving to pursue ‘new challenges’ once the telecoms company had successfully completed the demerger of its European mobile communications operation.

Bland said: ‘The contract of Philip Hampton, Group Finance Director, will not be extended beyond November 2002 because he wishes to seek new challenges once the demerger of mmO2 and the restructuring of BT are complete. He will leave BT on a date to be agreed with me.’

Speculation on Hampton’s future had been mounting over the past weeks since the resignation last month of chief executive Sir Peter Bonfield.

Hampton has only been with BT for a year and will be the third significant departure for the telecoms company, which unveiled pre-tax losses of Pounds 1.3bn for the last three months.

Chairman Sir Ian Vallance left earlier this year and Bonfield is due to go in January next year.

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BT to lose FD by year-end

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