Telecoms giant BT today named former ScottishPower executive Simon Lowth as its new finance boss.
Lowth, who was most recently chief financial officer at oil and gas group BG, will join BT on 4 July, replacing long-standing finance director Tony Chanmugam.
The group said last month that it had begun the search to replace Chanmugam, who first took up his post in 2008. Following Lowth’s arrival, Chanmugam will spend a “period of time” focused on integrating recently-acquired mobile operator EE into BT.
Lowth, a veteran of management consultancy McKinsey & Company, spent four years at ScottishPower, including two years at executive director for finance and strategy, before joining drug giant AstraZeneca as chief financial officer in 2007.
He moved to BG in November 2013 before stepping down last month following its £36bn takeover by rival Shell.
BT chief executive Gavin Patterson said: “Simon brings a wealth of experience to BT, having served as CFO and a board director for a number of major international companies, and I’m thrilled he’s joining. On top of his solid financial acumen, his strong organisational leadership and engineering experience at a number of leading infrastructure companies will be a real asset for BT.
“I’d also like to thank Tony Chanmugam for his tremendous hard work, commitment and the strong results that he has delivered during his career. BT is a much stronger business today as a result of the phenomenal role Tony has played in BT’s cost transformation and strategic direction. I wish him all the best in his future enterprises.”
Lowth added: “Having acquired one of the UK’s leading mobile operators and with superfast fibre broadband available to well over 24 million homes, BT is well-placed for growth in consumer, business and wholesale markets. I look forward to working with Gavin Patterson and the rest of BT’s strong team to build upon the solid strategic and financial foundations already in place.”