Worst kept secret confirmed as Crozier moves to head up BT

Adam Crozier has been confirmed as the new chairman of BT following the retirement of Jan du Plessis.

It has been known for some time that Crozier would be taking up the post after The Sunday Times revealed that he had beaten off three other candidates for the post earlier this month.

Crozier is an experienced professional, having led ITV for a number of years before resigning in 2017.

Prior to joining ITV, Crozier had been CEO of Royal Mail, where he led its modernisation and transformation.

His appointment at BT is thought to be for the same reasons. With a critical period for the telecoms company approaching whereby it will be rolling out full-fibre broadband to 25 million premises by 2026, Crozier’s experience will be vital.

Iain Conn, BT’s Senior Independent Director, said: “After a thorough and comprehensive process to ensure we identified the very best candidate to lead BT, Adam is the unanimous choice of the Board. 

He has significant experience in leading public company boards, developing teams and managing stakeholders and brings a strong transformational and operational track record in large-scale executive roles.”

Crozier will resign from his current role as the chairman of clothing brand ASOS. He will also step down as a non-executive director of Sony.

The outgoing chairman said: “I am delighted Adam is succeeding me. Chairing the Board of BT over the past four years has been a tremendous privilege. BT is a truly unique and special business and what this company does really matters to so many people.”

BT has had a strong year, with investors being encouraged by the positive news regarding broadband and the pension deficit. Since the start of the year shares have risen from 135p to 177p.

Crozier said: “It is an honour to join the Board of BT and to succeed Jan as Chair. BT is a hugely important company, with a critical role to play in building the digital networks and services to support the UK’s future.

I look forward to working with the Board, Philip and his executive team to create value for all our stakeholders.”

BT saw a slight fall of 1.51 per cent in its share price this morning.