Britain's biggest fixed-line telecoms provider BT Group is promoting Ian Livingstonto succeed Ben Verwaayen as chief executive, it said this morning.
BT said Mr Verwaayen, who helped the former state monopoly to avoid a break-up at the hands of regulators and branch into broadband and information technology, would step down on May 31st after six years in the job.
Analysts welcomed the appointment of Mr Livingston, who joined BT as finance director in 2002 and took over as head of the retail division in 2005.
Mr Livingston, who is currently head of its retail business will be succeeded at the retail business by Gavin Patterson, currently managing director of BT's consumer division.
At 7.50am, BT shares were up 0.7 per cent at 231.25 pence, valuing the business at about £18 billion sterling.
BT said Mr Livingston was the board's unanimous choice to succeed Mr Verwaayen and there would be no big change in strategy.