29th Jan 2016 11:17
LONDON (Alliance News) - BT Group PLC said Friday that Nigel Stagg, chief executive officer of its Wholesale business, will leave the company after 36 years as he is "now planning to pursue other options."
Stagg's successor will be announced in due course, BT said. Stagg has been head of the Wholesale business since 2011.
Stagg's departure comes a few months after the company announced that head of its Openreach division, Joe Garner, would be stepping down to become chief executive officer of Nationwide Building Society.
In a separate statement on Friday, BT confirmed the completion of its GBP12.5 billion acquisition of mobile operator EE Ltd. In tandem with that announcement, EE said Chief Financial Officer Neal Milsom would step down, joining former chief executive Olaf Swantee in leaving the mobile group.
Shares in BT were up 2.1% at 475.90 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BT