BT chief executive Ian Livingston is leaving the telecoms giant in September to become a government minister.
Livingston (pictured) has been in the job for five years, during which he has overseen the expansion of BT’s fibre broadband network, as well as dealing with the huge losses made by the firm’s Global Services outsourcing arm in 2009 that forced BT to write off £340m.
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On leaving BT, he will join the House of Lords before becoming minister for trade and investment. He will be replaced by Gavin Patterson, currently the CEO of BT Retail.
“I am honoured to have been asked by the prime minister to take on the role of minister for trade and investment, with a remit of helping the growth of British companies and the country’s future economic success,” said Livingston.
“It has been an incredibly hard decision to leave BT at such an exciting time. However, the opportunities ahead and the strength of the management team that Gavin will lead mean that the company is in a great position.”
Patterson added: “We have the people, the technology and the plans we need to build on our current successes. I look forward to leading a dynamic team to ensure we do just that.”
The new CEO has worked at BT since 2004, initially as managing director of its consumer division, becoming chief executive of BT Retail in May 2008.
Livingston was also CEO of BT Retail prior to succeeding Ben Verwaayen as group CEO in June 2008.