BT Group PLC has officially confirmed that Chief Executive Philip Jansen intends to resign from his role within the next twelve months. This announcement aligns with a report from Sky News

over the weekend, which stated that Jansen had been considering various offers for positions in the United States.

The London-based telecommunications company stated that its nominations committee has initiated the formal succession process to prepare for Jansen's departure. Since taking on the role of Chief Executive in 2019, Jansen has played a significant role in reshaping the company. He announced plans to reduce the workforce by 55,000 employees by the end of the decade and focused on investing in high-speed broadband, aiming to connect 25 million homes by the end of 2026.

BT is collaborating with London-based search firm Spencer Stuart to identify a suitable successor for Jansen. BT Chair Adam Crozier stated that the board was well-prepared for the succession process, and all appropriate candidates would be considered. An update on the progress of finding a new Chief Executive is expected to be provided over the summer, potentially within weeks, with BT's annual general meeting approaching.

Jansen expressed his dedication to driving the business forward until he hands over to his successor, emphasizing the company's investment in BT's and the UK's future. Despite Jansen's impending departure, he highlighted that BT is focused on growth and remains committed to its objectives.

Shares in BT Group experienced a slight decline of 0.5% to 121.60 pence in London during Monday morning trading. Photo by Dunc(an), Wikimedia commons.