BT has officially announced the appointment of Allison Kirkby as its new chief executive.
Kirkby will succeed Philip Jansen and is expected to take up the role by the end of January 2024 at the latest.
“I am incredibly honoured to have been appointed as the next chief executive of BT Group. BT is a vital company for the UK and its customers both domestically and internationally, and it is uniquely positioned to help everyone benefit from the rapid advances in digitalisation,” Kirkby said.
“Our products and services have never been more central to how people live and work. With the significant investment BT is making in digital infrastructure and the modernisation of its services, I see the company playing an even more important role in the future.”
Kirkby is a well-respected leader in the telecommunications sector. Since early 2020 she has served as CEO of Telia Company, a digital communications and telecoms provider serving the Nordic and Baltic regions. She has also held senior roles at Virgin Media, TDC and Tele2 AB.
Before her telecoms career, Kirkby gained financial and operational experience at Procter & Gamble, where she qualified as a Chartered Management Accountant. Her broad industry experience and financial background make her a strong fit for the top leadership role at BT Group.
Adam Crozier, BT Group Chairman, commented:
“The board is delighted to have appointed Allison as our new chief executive. She is a proven leader, with deep sector experience and a track record of transforming businesses.
I look forward to supporting her as we deliver our long-term strategy to transform BT Group and ensure it delivers for all our stakeholders.”
Kirkby has been a Non-Executive Director at BT Group since 2019 and has expressed full support for the company’s strategy. Her four years on the board give her familiarity with the organisation that should help ensure an orderly leadership transition and a smooth handover of responsibilities.
Philip Jansen, the outgoing chief executive, will remain in post until the end of January 2024, after which he will hand over responsibilities to Allison Kirkby. He will be available to support the transition through the end of March 2024 and then plans to retire from executive life.
Kirkby’s remuneration will follow the Directors’ Remuneration Policy approved by shareholders in July 2023. Her package includes an annual salary of £1,100,000, a cash allowance in lieu of pension equal to 10 percent of salary, and other benefits in line with the company policy.
She will be eligible for an annual bonus of up to 120 percent of salary, subject to performance conditions. Half of any bonus awarded will be deferred into BT Group shares for an additional three years without further performance conditions.
In addition, Kirkby will receive a long-term Restricted Share Plan award equivalent to 200 percent of her salary, which will vest in three equal tranches at three, four and five years after grant. She will be required to retain all vested shares until five years after the grant.
Kirkby is expected to build a personal shareholding equal to 500 percent of her salary within five years.
The announcement has drawn positive reaction from investors and industry observers. Many expect Kirkby’s leadership and sector experience to support continued growth and development at BT Group.
(Image Credit: BT)
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