Oct 25, 2018

BT names Philip Jansen of Worldpay as new chief

BT has named Philip Jansen as its new chief executive, replacing Gavin Patterson, after agreeing a complex remuneration package to land the former Worldpay boss. BT had been closing in on Mr Jansen after he emerged as its preferred candidate a month ago. BT has agreed to a series of measures to boost Mr Jansen's £1.1m salary. Those include a share-based buy out of almost £900,000 worth of BT shares to compensate Mr Jansen for his forfeited Worldpay stock, and a long-term incentive plan - equivalent to 400 per cent of his salary - which vests after three years, subject to performance. Mr Jansen said: "In a competitive market we will need to be absolutely focused on our customers' needs and pursue the right technology investments to help expand the business. I'm excited to get to know all the people at BT and work together to take the business forward."

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