Following the exit of Baywatch lookalike Gavin Patterson, everyone has had a go at guessing who will be the next BT CEO. The wait may well be over with BT reportedly offering the job to Philip Jansen.
According to Bloomberg, BT have been in private discussions with Jansen for some time now, with the rumours of his ascension emerging in September. People familiar with the matter suggest an offer has been made, with BT potentially making the official announcement on November 1, alongside its financial results for Q3.
Irrelevant as to whether the rumours prove true, the new boss will have a tough job turning around a business which has faced several scandals over the last 12 months, profit warnings and a turbulent relationship with UK telco watchdog Ofcom. The team also need to fix a heavy pension deficit, while also finding additional funds to ensure both its broadband and mobile networks remain competitive. Over the last three years, share price has dropped roughly 59%, with it currently being the lowest for six years. Jansen might be heading into one of the toughest jobs in telco.
Adding to the rumours of the Jansen discussions is his resignation from Worldpay which was announced last month. Jansen will remain in the role until the end of the year, though the stars do seem to align.
While there have been several names thrown around, Jansen does make a compelling case. During his tenure, Jansen oversaw the $10.4 billion acquisition and merger of Worldpay rival Vantiv, adding a few interesting bullet points to his CV. With the EE purchase still to pay dividends, perhaps a fresh set of eyes, with experience in significant M&A is an attractive idea.