BT Group PLC (LSE:BT.A) is on the hunt for a new boss after chief executive Philip Jansen said he is to step down at an “appropriate moment” over the next 12 months.
BT said it expects to be able to update the market on progress of appointing a successor over the summer.
In a statement, Adam Crozier, BT chairman said: "Philip has done an excellent job in his time at BT and the board is fully supportive of our long-term strategy which he and his team are pursuing.”
Jansen said he was “fully committed to driving the business forward until I hand over to my successor."
Over the weekend, Sky reported that Jansen is understood to be undecided about whether to continue his executive career or pursue chairmanship roles.
In recent days, there has been speculation that he could return to Worldpay (LSE:WPG) - the payments group he ran prior to his appointment at BT - after its US$18.5bn purchase by the private equity firm GTCR.
Sky quoted one source as saying Jansen had also recently turned down an offer of a CEO role at a major US technology company.